MID-STATE BANCSHARES 4
4 · MID-STATE BANCSHARES · Filed Aug 14, 2003
Insider Transaction Report
Form 4
MORRIS GREGORY R
Director
Transactions
- Other
Common Stock
2003-08-12$15.50/sh+4,000$62,000→ 20,000 total(indirect: By Company)Exercise: $15.50From: 2003-08-12Exp: 2008-08-12→ Common Stock (20,000 underlying)
Footnotes (5)
- [F1]Non-Qualified Stock Option (right to buy) - 20,000 shares granted at an exercise price of $15.50 per share on August 12, 1998. Option is now fully vested and shares are eligible for exercise until August 12, 2008.
- [F2]Shares granted at fair market value as of August 12, 1998.
- [F3]Under the terms of the Company's 1996 Stock Option Plan, this option grant vests 20% per year on the anniversary date of the grant for five (5) years at which time the option becomes 100% vested. Optionee has another five (5) years from the 100% vesting anniversary date to exercise the shares in accordance with the terms and conditions of the Company's Plan. No shares under this option grant have been exercised by the individiual to date.
- [F4]Additional 4,000 shares vested on August 12, 2003 and are eligible for exercise by Mr. Morris at the exercise price of $15.50 per share. This grant is now fully vested.
- [F5]Shares granted to Mr. Morris by Company on August 12, 1998. Under this grant, no shares have been exercised to date.