MALUGEN JOE T 4
4 · MOVIE GALLERY INC · Filed Sep 8, 2003
Insider Transaction Report
Form 4
MALUGEN JOE T
DirectorChairman, CEO, President10% Owner
Transactions
- Other
Forward Sale Contract
2003-09-03−1,000,000→ 0 totalExp: 2006-02-03→ Common Stock (1,000,000 underlying)
Footnotes (1)
- [F1]Mr. Malugen entered into a Variable Stock Purchase Agreement on September 3, 2003 with Banque AIG, London Branch, relating to the forward sale to Banque AIG of up to one million shares of Movie Gallery, Inc. owned by him. Under the agreement, Mr. Malugen may execute transactions for up to one million shares of his stock at varying prices and has agreed to deliver the shares to Banque AIG in February 2006 (or an earlier date if the agreement is earlier terminated). The number of shares that Mr. Malugen will ultimately be required to deliver to Banque AIG for purchase will be based upon the fair market value of the shares in February 2006, but will in no event be more than one million shares. Mr. Malugen may, in the alternative, settle the agreement by delivering cash to Banque AIG rather than selling the shares.