4//SEC Filing
Lamb Robert B 4
Accession 0001179110-09-017622
CIK 0000769520other
Filed
Dec 30, 7:00 PM ET
Accepted
Dec 31, 2:43 PM ET
Size
8.2 KB
Accession
0001179110-09-017622
Insider Transaction Report
Form 4
MIDDLEBY CORPMIDD
Lamb Robert B
Director
Transactions
- Award
Common Stock
2009-12-29+2,000→ 2,000 total - Disposition to Issuer
Common Stock
2009-12-29−2,000→ 0 total
Footnotes (3)
- [F1](1) The Board of Directors of the Company approved the cancellation of the unvested portion of Performance Stock first scheduled to vest at specified common stock prices of the Company on January 1, 2009, January 1, 2010, and January 1, 2011 pursuant to Restricted Stock Agreements with the Reporting Person.
- [F2](2) The cancelled shares relate to a portion of the Performance Stock award granted to the Reporting Person for a total of 3,000 shares on May 7, 2007. The Performance Stock was scheduled to vest in 1/3rd increments annually beginning January 1, 2008 with the final vesting period on January 1, 2010. Vesting was contingent on the 30 day avg. for the Company's common stock as follows: 2008 tranche - $70; 2009 tranche - $70; and 2010 tranche - $77.50. To date, the 2008 tranche has vested. As a result of the cancellation, the 2009, and 2010 tranches have been cancelled.
- [F3](3) Transaction represents grant of Restricted Stock, which vests in two equal tranches, each subject to performance and time-based vesting requirements. Tranche 1 vests on March 15, 2011 if the Company has achieved a Return on Equity (as defined in the award agreement) of 10% for the fiscal 2010 period. Tranche 2 vests on January 1, 2012 (as measured on March 10, 2011) if the Company has achieved a Return on Equity of 12% for the same fiscal 2010 period. If the fiscal 2010 Return on Equity criteria is not met (as measured on March 10, 2011), the Restricted Stock will vest, on March 15, 2012, based on achievement of the same Return on Equity criteria for the fiscal 2011 period. If the Return on Equity criteria are not met for the fiscal 2010 or 2011 period, the Restricted Stock will be forfeited.
Documents
Issuer
MIDDLEBY CORP
CIK 0000769520
Entity typeother
Related Parties
1- filerCIK 0001328577
Filing Metadata
- Form type
- 4
- Filed
- Dec 30, 7:00 PM ET
- Accepted
- Dec 31, 2:43 PM ET
- Size
- 8.2 KB