4//SEC Filing
Sorensen J Kim 4
Accession 0001140361-11-022119
CIK 0000852766other
Filed
Apr 13, 8:00 PM ET
Accepted
Apr 14, 6:04 PM ET
Size
9.2 KB
Accession
0001140361-11-022119
Insider Transaction Report
Form 4
YTB International, Inc.YTBLA.PK
Sorensen J Kim
DirectorVice ChairmanOther
Transactions
- Disposition to Issuer
Class A Common Stock
2011-01-03−355,644→ 37,500 total
Holdings
- 33,897(indirect: By Spouse)
Class A Common Stock
- 4,824,400(indirect: By Sorkidz,LP)
Class A Common Stock
Footnotes (6)
- [F1]The Reporting Person is a member of a Section 13(d) group and a party to a certain Stockholders' Agreement, dated as of December 8, 2004, by and among the Reporting Person and other stockholders of the Issuer that together own a significant percentage of the Issuer's outstanding Common Stock, pursuant to which the Reporting Person shares voting power over additional shares subject to the voting arrangements thereunder. In addition, as a result of the grant, on November 22, 2006, to the Reporting Person and other members of the Reporting Person's Section 13(d) group of an irrevocable proxy with respect to additional shares of the Issuer's Common Stock, the Reporting Person directly shares voting power with respect to such additional shares. The Reporting Person does not possess a pecuniary interest with respect to any such shares, however, and has therefore not reported them in this Form 4.
- [F2]The Issuer has two classes of common stock, Class A Common Stock and Class B Common Stock. The two classes of common stock are identical in all respects except as to voting power, as shares of Class A Common Stock are entitled to one-tenth vote per share, and shares of Class B Common Stock, one vote per share, on all matters submitted to a vote of the Issuer's stockholders. Because shares of Class B Common Stock automatically convert into Class A Common Stock on a one-for-one basis upon sale or other disposition (with the exception of transfers among related entities, transfers to trusts for the benefit of the transferring holder of the Class B Common Stock, bona fide pledges under financing arrangements and similar transfers), the Reporting Person has included all shares of Class B Common Stock that he holds in calculating and reporting the total number of shares of Class A Common Stock that he holds throughout this Form 4.
- [F3]The transaction reported in this row was an involuntary forfeiture of restricted stock. Because certain performance goals were not attained, these shares granted pursuant to a restricted stock award agreement with the Issuer did not vest on January 3, 2011 and were forfeited as a result.
- [F4]Includes 37,500 shares of Class A Common Stock that are held by the Reporting Person in an IRA account.
- [F5]These shares of Class A Common Stock are held by the Reporting Person's spouse in an IRA account.
- [F6]Sorkidz, LP, is an entity in which the Reporting Person and his wife hold a limited partnership interest via a family trust.
Documents
Issuer
YTB International, Inc.
CIK 0000852766
Entity typeother
Related Parties
1- filerCIK 0001312582
Filing Metadata
- Form type
- 4
- Filed
- Apr 13, 8:00 PM ET
- Accepted
- Apr 14, 6:04 PM ET
- Size
- 9.2 KB