FIRST MARBLEHEAD CORP 4
4 · FIRST MARBLEHEAD CORP · Filed Sep 4, 2013
Insider Transaction Report
Form 4
Klipper Kenneth S
Chief Financial Officer
Transactions
- Exercise/Conversion
Restricted Stock Units
2013-09-01−13,000→ 26,000 total→ Common Stock (13,000 underlying) - Exercise/Conversion
Common Stock
2013-09-01+13,000→ 209,819 total - Tax Payment
Common Stock
2013-09-01$0.80/sh−4,238$3,390→ 205,581 total
Footnotes (3)
- [F1]Each restricted stock unit represents a contingent right to receive one share of common stock on the applicable vesting date. 13,000 restricted stock units vested on September 1, 2013. Vested shares will be issued to the reporting person as soon as practicable after each vesting date.
- [F2]On September 1, 2011, the reporting person was granted 52,000 restricted stock units, vesting in four equal annual installments beginning on September 1, 2012, the first anniversary of the date of the grant.
- [F3]Following the vesting of the 13,000 restricted stock units reported hereby, the remaining 26,000 restricted stock units will vest in two equal annual installments ending on September 1, 2015.