Forbes Glenn S 4
4 · HORMEL FOODS CORP /DE/ · Filed Apr 2, 2013
Insider Transaction Report
Form 4
Forbes Glenn S
Director
Transactions
- Award
Phantom Stock Units
2013-03-31$41.32/sh+228.7$9,450→ 925.82 total→ Common Stock (697.12 underlying)
Holdings
- 11,267.222
Common Stock
Footnotes (3)
- [F1]Of the shares being reported, 4,517.222 shares are subject to certain restrictions (including possible forfeiture) applicable to restricted stock grants under the 2009 Long-Term Incentive Plan and the Restricted Stock Award Agreements. (Reporting Person also holds 925.82 phantom shares in his/her deferred stock account.)
- [F2]Each share of phantom stock is the equivalent of one share of common stock. The shares of phantom stock become payable in common stock in one lump sum, or in up to ten annual installments, at the election of the reporting person, on February 15 of the year following termination of service as a director, or such later date as is elected by the reporting person. In addition, the shares of phantom stock become payable in common stock in one lump sum immediately upon a director's separation from service within six months following a change of control (as defined in the Plan).
- [F3]Reflects additional phantom stock units received by the Reporting Person upon conversion of dividend equivalents from December 31, 2012 to the present