BAIRD WINFIELD 5
5 · NATIONAL SECURITY GROUP INC · Filed Feb 14, 2012
Insider Transaction Report
Form 5
BAIRD WINFIELD
Director
Transactions
- Other
Phantom Stock Units
2012-02-14$8.75/sh+270$2,363→ 7,357 totalExercise: $8.75→ Phantom Stock Units (270 underlying)
Footnotes (2)
- [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. The plan was frozen on 12/31/2004. These shares were acquired during the fiscal year pursuant to the dividend reinvestment component of the nonqualified deferred compensation plan which was frozen on 12/31/2004.
- [F2]Pursuant to a plan adopted by the Board in 2010 to terminate the old phantom stock plan, the remaining balance will be distributed in cash during 2012.