4//SEC Filing
OVERSEAS SHIPHOLDING GROUP INC 4
Accession 0001140361-10-024187
CIK 0000075208operating
Filed
Jun 2, 8:00 PM ET
Accepted
Jun 3, 6:28 PM ET
Size
7.3 KB
Accession
0001140361-10-024187
Insider Transaction Report
Form 4
PICKET JOEL I
Director
Transactions
- Award
Restricted Stock Units
2010-06-02+2,537→ 2,537 total→ Common Stock (2,537 underlying)
Footnotes (2)
- [F1]Pursuant to the Issuer's 2004 Stock Incentive Plan, as amended and restated as of June 2, 2010 (the "Plan"), the Reporting Person was granted restricted stock units for service as a non-employee director of the Issuer. Each restricted stock unit represents a contingent right to receive one share of Common Stock of the Issuer upon the Reporting Person's termination of service as a Board member of the Issuer. The Reporting Person becomes vested in one fourth of such restricted units on each of (i) the earlier of (a) June 2, 2011 and (b) the 2011 annual meeting of stockholders of the Issuer, and (ii) the second, third and fourth anniversaries of the date of grant provided that if the Reporting Person ceases to be a director of the Issuer on or after the date referred to in clause (i) for any reason other than Cause as defined in the Plan the Reporting Person shall automatically become vested in all such restricted stock units.
- [F2]The restricted stock units have no voting rights, may not be transferred or otherwise disposed while the Reporting Person is a director of the Issuer and pay dividends in the form of additional restricted stock 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 units owned by the Reporting Person on the record date for the dividend on the Common Stock times (y) the dividend on the Common Stock, which restricted stock units vest immediately upon payment.
Documents
Issuer
OVERSEAS SHIPHOLDING GROUP INC
CIK 0000075208
Entity typeoperating
IncorporatedFL
Related Parties
1- filerCIK 0000075208
Filing Metadata
- Form type
- 4
- Filed
- Jun 2, 8:00 PM ET
- Accepted
- Jun 3, 6:28 PM ET
- Size
- 7.3 KB