Petito Frank 4
4 · Orbitz Worldwide, Inc. · Filed May 27, 2010
Insider Transaction Report
Form 4
Petito Frank
SVP, Corp. Development
Transactions
- Exercise/Conversion
Common Stock
2010-05-25+2,810→ 42,367 total - Tax Payment
Restricted Stock Units
2010-05-25−1,558→ 2,810 totalExp: 2017-07-25→ Common Stock (1,558 underlying) - Exercise/Conversion
Restricted Stock Units
2010-05-25−2,810→ 0 totalExp: 2017-07-25→ Common Stock (2,810 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 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 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, with the final installment of the restricted stock units vesting on May 25, 2010.