HUGHES DAVID R 4
4 · TRUMP ENTERTAINMENT RESORTS, INC. · Filed Nov 18, 2010
Insider Transaction Report
Form 4
HUGHES DAVID R
Chief Financial Officer
Transactions
- Award
Common Stock
2010-11-16+89,288→ 89,288 total - Award
Restricted Stock Unit
2010-11-16+44,644→ 44,644 totalFrom: 2012-11-16Exp: 2012-11-16→ Common Stock (44,644 underlying)
Footnotes (3)
- [F1]The 89,288 shares of restricted stock awarded to the reporting person on November 16, 2010 will vest in four equal annual installments of 22,322 shares on March 15, 2012, 2013, 2014 and 2015, provided that, except as otherwise set forth in the award agreement, the reporting person remains employed by the Issuer through the end of each such period and certain performance objectives have been achieved.
- [F2]Each restricted stock unit represents an unfunded and unsecured promise of the Issuer to deliver, subject to the terms of the award agreement, on November 16, 2012 (the settlement date of the restricted stock units), one share of the Issuer's common stock or, at the Issuer's option, cash equal to the then-current fair market value of a share of the Issuer's common stock.
- [F3]Of the 44,644 restricted stock units, 22,322 restricted stock units vested at the time of grant on November 16, 2010 and the remaining 22,322 restricted stock units will vest on November 16, 2011, provided that, except as otherwise set forth in the award agreement, the reporting person remains employed by the Issuer through November 16, 2011. The Issuer shall settle the restricted stock units on November 16, 2012.