Scherer Allan D 4
4 · SOUTHERN UNION CO · Filed Jun 1, 2009
Insider Transaction Report
Form 4
Scherer Allan D
Director
Transactions
- Award
Common Stock
2009-05-28+1,000→ 20,488 total - Award
Stock Options (right to purchase)
2009-05-28+14,815→ 14,815 totalExercise: $16.98Exp: 2019-05-28→ Common Stock (14,815 underlying)
Holdings
- 2,000
7.55% Noncumulative Preferred Stock, Series A
- 3,582(indirect: By Spouse)
Common Stock
Footnotes (3)
- [F1]The award of restricted shares was approved by the Board of Directors (the "Board") on May 28, 2009 ("Grant Date 2009"), upon a recommendation by the Compensation Committee and pursuant to the Southern Union Company Second Amended and Restated 2003 Stock and Incentive Plan(the "Plan").The restrictions on the shares associated with this award expire on January 4, 2010.
- [F2]The Reporting Person owns these shares jointly with his spouse. However, the Reporting Person disclaims beneficial ownership in such shares except to the extent of his pecuniary interest therein.
- [F3]Upon a recommendation by the Compensation Committee, the Company's Board approved an award of stock options pursuant to the Company's Plan. The stock options were awarded at an exercise price of $16.98 per share, which is equal to the closing price on Grant Date 2009. The options awarded will vest in full on January 4, 2010 and will remain exerciseable until the tenth anniversary of Grant Date 2009. The vesting of the options will be accelerated in the event of (i) a change of control of the Company or (ii) the death or disability of the Reporting Person.