SIVLEY DEAN 4
4 · Orbitz Worldwide, Inc. · Filed Aug 27, 2008
Insider Transaction Report
Form 4
SIVLEY DEAN
SVP, COO - Orbitz for Business
Transactions
- Exercise/Conversion
Common Stock
2008-08-25+2,780→ 20,002 total - Tax Payment
Restricted Stock Units
2008-08-25−1,588→ 33,354 totalExp: 2017-07-25→ Common Stock (1,588 underlying) - Exercise/Conversion
Restricted Stock Units
2008-08-25−2,780→ 30,574 totalExp: 2017-07-25→ Common Stock (2,780 underlying)
Footnotes (3)
- [F1]Each restricted stock unit represents a contingent right to receive, in the sole discretion of the Board of Directors of the Company, either (i) one share of the Company's common stock as of the vesting date, or (ii) cash equal to the fair market value (as determined by the Board of Directors of the Company in good faith) of one share of the Company's common stock as of the vesting date. The restricted stock units reported as disposed herein were settled for shares of the Company's common stock.
- [F2]Each restricted stock unit represents a contingent right to receive, in the sole discretion of the Board of Directors of the Company, either (i) one share of the Company's common stock as of the vesting date, or (ii) cash equal to the fair market value (as determined by the Board of Directors of the Company in good faith) of one share of the Company's common stock as of the vesting date. The shares of common stock underlying the restricted stock units reported as disposed herein were retained (but not issued) by the Company in satisfaction of tax withholding obligations associated with the vesting of such units.
- [F3]The restricted stock units vest quarterly in twelve equal installments over three years, commencing on August 25, 2007.