4//SEC Filing
Crystal Richard P 4
Accession 0001179110-09-001757
CIK 0001211351other
Filed
Jan 29, 7:00 PM ET
Accepted
Jan 30, 4:41 PM ET
Size
14.8 KB
Accession
0001179110-09-001757
Insider Transaction Report
Form 4
Crystal Richard P
DirectorChairman and CEO
Transactions
- Award
Performance Units
2009-01-28+1,000→ 1,000 totalExercise: $0.00→ Common Stock (1,000 underlying)
Holdings
- 810,350
Common Stock
- 115,000
Options to Purchase Common Stock
Exercise: $4.74Exp: 2018-03-19→ Common Stock (115,000 underlying) - 45,000
Options to Purchase Common Stock
Exercise: $15.76Exp: 2016-03-15→ Common Stock (45,000 underlying) - 486,453
Options to Purchase Common Stock
Exercise: $3.23Exp: 2014-05-14→ Common Stock (486,453 underlying) - 771,015
Options to Purchase Common Stock
Exercise: $0.11Exp: 2012-11-27→ Common Stock (771,015 underlying)
Footnotes (6)
- [F1]On November 19, 2008, the Reporting Person was granted an award of restricted stock in connection with the modification of the Company's Spring 2009 bonus plan. The Company, its senior management and its Board of Directors have agreed to modify the spring bonus plan under the Company's Incentive Compensation Plan, such that target bonuses for senior management will be reduced by 50% and will not be paid with cash but rather will be paid with an award of the Company's common stock if the Company achieves the applicable operating income targets for Spring 2009 that were approved by the Compensation Committee of its Board of Directors. For a further description of the Company's Incentive Compensation Plan, refer to its 2008 Proxy Statement filed with the Securities and Exchange Commission on May 22, 2008.
- [F2]Includes 673,389 shares of common stock, 121,961 shares of restricted stock described in footnote #1, and 15,000 shares of restricted stock which will be earned pursuant to a schedule ending on August 16, 2010 depending on company performance and continued employment through August 16, 2010, at which time such shares shall vest. If certain company performance objectives are met throughout the 4-year period, the restricted stock will be earned as follows: 1,875 on February 3, 2007; 3,750 on February 2, 2008; 3,750 on January 31, 2009; 3,750 on January 30, 2010; and 1,875 on August 16, 2010. If on August 16, 2010, the company's cumulative 4-year performance meets the cumulative 4-year performance objectives, then any unearned shares will vest.
- [F3]On January 28, 2009, the Reporting Person was granted a performance unit award subject to performance vesting requirements and continued employment with the Company through February 11, 2011. In order to meet the performance vesting requirement, the average closing stock price of the Company's common stock for the 30 trading days prior to February 11, 2011 (the "Average Closing Stock Price") shall be equal to or greater than $11.00 per share. If the performance units become vested on February 11, 2011, the Reporting Person will receive the number of shares of common stock equal to (i) $3,000,000 divided by the Average Closing Stock Price if such Average Closing Stock Price is equal or greater to $11.00 per share but less than $20.00 per share or (ii) $5,000,000 divided by the Average Closing Stock Price if the Average Closing Stock Price is greater or equal to $20.00 per share. The maximum number of shares the Reporting Person can receive is limited to 272,727 shares.
- [F4]The options become exercisable in four annual installments on the following dates: 28,750 shares on March 19, 2009; 28,750 shares on March 19, 2010; 28,750 shares on March 19, 2011; and 28,750 shares on March 19, 2012.
- [F5]The options become exercisable in five annual installments on the following dates: 6,750 shares on March 15, 2007; 6,750 shares on March 15, 2008; 9,000 shares on March 15, 2009; 11,250 shares on March 15, 2010; and 11,250 shares on March 15, 2011.
- [F6]The options to purchase common stock are currently exercisable.
Documents
Issuer
New York & Company, Inc.
CIK 0001211351
Entity typeother
Related Parties
1- filerCIK 0001299924
Filing Metadata
- Form type
- 4
- Filed
- Jan 29, 7:00 PM ET
- Accepted
- Jan 30, 4:41 PM ET
- Size
- 14.8 KB