Galbraith Steven M 4
4 · Pzena Investment Management, Inc. · Filed Jan 4, 2012
Insider Transaction Report
Form 4
Galbraith Steven M
Director
Transactions
- Award
Phantom Stock
2012-01-01$4.33/sh+16,166$69,999→ 34,288 total→ Class A common stock, par value $0.01 (16,166 underlying)
Footnotes (2)
- [F1]Issued in connection with the Reporting Person's 2012 non-employee director annual retainer in the amount of $70,000, payable at the director's option, either 100% in cash, 100% in shares of the Issuer's Class A common stock, or 50% payable in cash and 50% in shares of the Issuer's Class A common stock. All shares of the Issuer's Class A common stock was valued at the closing price on December 30, 2011.
- [F2]Each share of Phantom Stock is the economic equivalent of one share of the Issuer's Class A common stock ("Common Stock"). The shares of Phantom Stock become payable in a single distribution of shares of Common Stock, at such time as elected by the Reporting Person at the time such deferral was elected pursuant to Section 3.4 of the Pzena Investment Management, Inc. Non-Employee Director Deferred Compensation Plan (previously filed as Exhibit 10.1 to the Issuer's quarterly report on Form 10-Q filed with the Securities and Exchange Commission on November 9, 2009).