NORTHWEST AIRLINES CORP 4
4 · NORTHWEST AIRLINES CORP · Filed Sep 29, 2008
Insider Transaction Report
Form 4
FORET MICKEY P
Director
Transactions
- Other
Common Stock
2008-07-01+27,528→ 27,528 total(indirect: By LLC) - Award
Common Stock
2008-09-25+10,975→ 10,975 total - Award
Employee Stock Option (right to buy)
2008-09-25+7,317→ 7,317 totalExercise: $22.26Exp: 2017-06-27→ Common Stock (7,317 underlying)
Footnotes (4)
- [F1]These shares of common stock, par value $0.01 per share (the "Common Stock"), of Northwest Airlines Corporation (the "Company") were distributed by the Company in accordance with the First Amended Joint and Consolidated Plan of Reorganization under Chapter 11 of the Bankruptcy Code for the Company and certain of its affiliated entities (collectively, the "Debtors") on account of a pre-petition unsecured claim held with respect to Northwest Airlines, Inc. by Mr. Foret. Mr. Foret may in the future receive additional shares of Common Stock on account of this same claim as all unsecured claims held by creditors of the Debtors continue to be reconciled.
- [F2]Mr. Foret is the sole member of Aviation Consultants, LLC.
- [F3]Grant of restricted stock units for no consideration. The restricted stock unit award was approved by the Company's Board of Directors on June 28, 2007, subject to shareholder approval of an amendment (the "Plan Amendment") to the Company's 2007 Stock Incentive Plan, under which the award was granted. The Company's shareholders approved the Plan Amendment on September 25, 2008.
- [F4]The option grant was approved by the Company's Board of Directors on June 28, 2007, subject to shareholder approval of the Plan Amendment under which the option was granted. The Company's shareholders approved the Plan Amendment on September 25, 2008. One-third of the option vested on September 25, 2008 and the remaining two-thirds of the option vests in six equal installments beginning November 30, 2008 and thereafter on each six-month anniversary of such date until fully vested on May 31, 2011.