4//SEC Filing
BERGLUND MATS 4
Accession 0001140361-10-008569
CIK 0000075208other
Filed
Feb 24, 7:00 PM ET
Accepted
Feb 25, 6:46 PM ET
Size
12.9 KB
Accession
0001140361-10-008569
Insider Transaction Report
Form 4
BERGLUND MATS
SVP & Head Crude Transp. SBU
Transactions
- Award
Common Stock, par value $1.00 per share
2010-02-23+1,871→ 20,366 total - Award
Stock Option (right to buy)
2010-02-23+6,001→ 6,001 totalExercise: $43.40Exp: 2020-02-23→ Common Stock (6,001 underlying) - Award
Performance Share Unit
2010-02-23+1,549→ 1,549 totalExercise: $0.00→ Common Stock
Holdings
- 1,005(indirect: (3))
Common Stock, par value $1.00 per share
Footnotes (6)
- [F1]These shares of Common Stock were granted pursuant to the Overseas Shipholding Group, Inc. 2004 Stock Incentive Plan, as amended (the "2004 Plan"), and are subject to vesting restrictions. The Reporting Person becomes vested in one fourth of such shares on each of the first, second, third and fourth anniversaries of the date of grant.
- [F2]Of these 20,366 shares of Common Stock, 9,725 shares are subject to vesting restrictions as of February 23, 2010.
- [F3]The Reporting Person indirectly owns these 1,005 shares of Common Stock through the OSG Ship Management, Inc. Savings Plan.
- [F4]The option to purchase these shares of Common Stock was granted pursuant to the 2004 Plan and will become exercisable as to one third of such shares on each of the first, second and third anniversaries of the date of grant.
- [F5]The Reporting Person was granted these performance share units pursuant to the 2004 Plan. Each performance share unit represents a contingent right to receive the number of shares of Common Stock of the Issuer equal to the product of (i) the number of performance share units times (ii) the fraction (x) the numerator of which is the average closing price for a share of Common Stock for the 20 trading days ending on February 22, 2013 and (y) the denominator of which is 43.40 (the closing price of a share of Common Stock on February 23, 2010), provided that if the numerator is less than 21.70, then the numerator shall be deemed zero (so the number of shares of Common Stock is zero) and if the numerator is more than 86.80, then the numerator shall be deemed to be 86.80 (so the fraction shall be two (2)). The Reporting Person vests in the performance share units on the close of business on February 22, 2013.
- [F6]The performance share units have no voting rights, may not be transferred or disposed of, may be converted into the number of shares of Common Stock as provided in note 5 above upon certification of the Compensation Committee of the Board of Directors of the Issuer as to the numerator of the above referenced fraction and pay dividends in the form of additional performance share units at the same time dividends are paid on the Common Stock in an amount equal to the result obtained by dividing (i) the product of (x) the amount of performance share units owned by the Reporting Person on the record date for the dividend on the Common Stock times (y) the dividend per share on the Common Stock by (ii) the closing price of a share of Common Stock on the payment date of the dividend on the Common Stock , which performance share units convert into the number of shares of Common Stock as determined in note 5 above and vest on the close of business on February 22, 2013.
Documents
Issuer
OVERSEAS SHIPHOLDING GROUP INC
CIK 0000075208
Entity typeother
Related Parties
1- filerCIK 0001337822
Filing Metadata
- Form type
- 4
- Filed
- Feb 24, 7:00 PM ET
- Accepted
- Feb 25, 6:46 PM ET
- Size
- 12.9 KB