Klipper Kenneth S 4
4 · FIRST MARBLEHEAD CORP · Filed Apr 15, 2013
Insider Transaction Report
Form 4
Klipper Kenneth S
Chief Financial Officer
Transactions
- Exercise/Conversion
Common Stock
2013-04-12+50,000→ 192,449 total - Tax Payment
Common Stock
2013-04-12$1.01/sh−15,850$16,009→ 176,599 total - Exercise/Conversion
Restricted Stock Units
2013-04-12−50,000→ 0 total→ Common Stock (50,000 underlying)
Footnotes (2)
- [F1]Each restricted stock unit represents a contingent right to receive one share of common stock on the applicable vesting date. 50,000 restricted stock units vested on April 12, 2013. Vested shares will be issued to the reporting person as soon as practicable after each vesting date.
- [F2]On April 12, 2010, the reporting person was granted 200,000 restricted stock units. 50,000 of the restricted stock units were fully vested upon grant, with the remaining 150,000 restricted stock units vesting in three equal annual installments beginning on April 12, 2011, the first anniversary of the grant date.