ELWOOD CLARK D 4
4 · ITT EDUCATIONAL SERVICES INC · Filed Jan 28, 2011
Insider Transaction Report
Form 4
ELWOOD CLARK D
Sr VP, Gen Counsel & Secretary
Transactions
- Award
Restricted Stock Units
2011-01-27+3,062→ 3,062 total→ Common Stock (3,062 underlying) - Award
Common Stock
2011-01-27+9,519→ 9,519 total
Holdings
- 6,097(indirect: By 401(k))
Common Stock
Footnotes (3)
- [F1]Restricted stock units awarded under the 2006 ITT Educational Services, Inc. Equity Compensation Plan (the "2006 Plan"), a Rule 16b-3 plan. The award will settle in three equal installments on January 27, 2012, 2013 and 2014 in the form of one share of the Company's common stock for each restricted stock unit being settled.
- [F2]Restricted stock units awarded under the 2006 Plan.
- [F3]Each restricted stock unit represents a contingent right to receive, as soon as administratively practicable after January 27, 2012 (the "Settlement Date"), cash in an amount equal to the average of the closing market prices of the Company's common stock over the 20 trading days prior to the Settlement Date.