Byers Robert L 4
4 · NATIONAL PENN BANCSHARES INC · Filed Apr 1, 2011
Insider Transaction Report
Form 4
Byers Robert L
Director
Transactions
- Award
Phantom Stock (Deferred Stock)
2011-03-31$7.60/sh+1,217.105$9,250→ 22,319.661 total→ Common Stock (1,217.105 underlying)
Footnotes (3)
- [F1]1 for 1
- [F2]The phantom stock units were accrued under the National Penn Bancshares, Inc. Directors' Fee Plan and are to be settled in National Penn Bancshares, Inc. common stock upon the reporting person's retirement as a director or reaching the age of 65, as elected by such person.
- [F3]Balance includes Phantom stock units acquired upon "reinvestment" of dividends accrued on phantom stock units under the Directors' Fee Plan. Because the Company has a dividend reinvestment plan available to substantially all of its shareholders on terms similar to the dividend reinvestment feature of the Directors' Fee Plan, the acquisition of phantom stock units with "reinvested" dividends is exempt from line item reporting under SEC Rule 16a-11.