SIVLEY DEAN 4
4 · Orbitz Worldwide, Inc. · Filed May 27, 2009
Insider Transaction Report
Form 4
SIVLEY DEAN
SVP, COO - Orbitz for Business
Transactions
- Tax Payment
Restricted Stock Units
2009-05-25−1,287→ 20,552 totalExp: 2017-07-25→ Common Stock (1,287 underlying) - Exercise/Conversion
Common Stock
2009-05-25+3,081→ 31,029 total - Exercise/Conversion
Restricted Stock Units
2009-05-25−3,081→ 17,471 totalExp: 2017-07-25→ Common Stock (3,081 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.