DANIS THOMAS P 4
4 · WORKSTREAM INC · Filed Apr 21, 2009
Insider Transaction Report
Form 4
WORKSTREAM INCWSTM
DANIS THOMAS P
Director
Transactions
- Exercise/Conversion
Common Stock
2009-04-17+33,334→ 80,001 total - Award
Common Stock
2009-04-17$0.27/sh+200,926$54,250→ 200,926 total(indirect: By LLC) - Exercise/Conversion
Restricted Stock Unit
2009-04-17−33,334→ 19,999 total→ Common Stock (33,334 underlying)
Footnotes (3)
- [F1]Shares were acquired upon the vesting and conversion of Restricted Stock Units, which were granted in prior years, for which no consideration was paid.
- [F2]Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Workstream Inc. common stock upon vesting. The remaining RSU's will vest as follows: 13,333 in November 2009 and 6,666 in November 2010.
- [F3]Shares were acquired as payment of accrued board fees totaling $54,250, based on the closing market price of $0.27 on 4/16/2009. At the request of the reporting person, the stock certificate was issued in the name of SINAD II, a limited liability company, where the reporting person is a 50% member. Therefore, the shares are deemed to be indirectly owned.