PAYLESS SHOESOURCE INC /DE/ 4
4 · PAYLESS SHOESOURCE INC /DE/ · Filed Mar 7, 2007
Insider Transaction Report
Form 4
PORZIG ULLRICH E
Senior Vice President
Transactions
- Award
Employee Stock Option
2007-03-06+5,850→ 5,850 totalExercise: $22.48Exp: 2013-04-07→ Common Stock (5,850 underlying)
Footnotes (1)
- [F1]On April 7, 2006, the reporting person was granted an option to purchase 5,850 shares of common stock under the Payless ShoeSource, Inc. 1996 Stock Incentive Plan which provides for tax withholding rights in a transaction exempt under Rule 16b-3. The option will vest in three equal installments over a three-year period on May 31st of each year following the date of the grant based on the Company's satisfaction of certain performance criteria. The performance criteria for 2006 were met on March 6, 2007, resulting in the commencement of the vesting period for an option on 5,850 shares.