NATIONAL SECURITY GROUP INC 4
4 · NATIONAL SECURITY GROUP INC · Filed Mar 21, 2011
Insider Transaction Report
Form 4
BROOKS FLEMING G
Director
Transactions
- Other
Phantom Stock Units
2011-03-17$12.25/sh−137$1,678→ 137 totalExercise: $12.25→ Phantom Stock Units (12.25 underlying) - Other
Phantom Stock Units
2011-02-28$12.25/sh+4$49→ 274 totalExercise: $12.25→ Phantom Stock Units (4 underlying)
Footnotes (3)
- [F1]The phantom stock units were awarded under the nonqualified deferred compensation plan in which directors could elect to defer their directors' fees by receiving phantom stock units payable in cash upon separation from service from the board. These shares were acquired during the fiscal year pursuant to the dividend reinvestment component of the nonqualified deferred compensation plan which was frozen 12/31/2004.
- [F2]The phantom stock units were awarded under the nonqualified deferred compensation plan in which directors could elect to defer their directors' fees by receiving phantom stock units payable in cash upon separation from service from the board. The plan was frozen on 12/31/2004. These shares were disposed of and distributed in cash.
- [F3]Upon separation from service from the Board, phantom stock units will be settled in cash at the then current market price of common stock.