MACK CALI REALTY CORP 4
4 · MACK CALI REALTY CORP · Filed Jun 3, 2015
Insider Transaction Report
Form 4
HERSH MITCHELL E
DirectorPresident and CEO
Transactions
- Tax Payment
Phantom Stock Units
2015-06-01−41,713.055→ 0 totalExercise: $0.00From: 2014-11-04Exp: 1988-08-08→ Common Stock (41,713.055 underlying) - Award
Common Stock
2015-06-01+41,811→ 736,450 total
Footnotes (4)
- [F1]On June 1, 2015, Mack-Cali Realty Corporation (the "Company") issued 41,811 shares of common stock to a rabbi trust for the benefit of Mitchell E. Hersh (the "Trust") as required by the Separation and General Release Agreement dated November 4, 2014 by and between the Company and Mr. Hersh (the "Separation Agreement") in full and final satisfaction of all obligations to Mr. Hersh under his Amended and Restated TSR-Based Performance Award Agreement with a grant date of January 1, 2013.
- [F2]On June 1, 2015, 41,713.055 phantom stock units previously issued to Mr. Hersh pursuant to his Deferred Retirement Compensation Agreement with the Company with a grant date of January 1, 2013 (the "Deferred Award Agreement") were cancelled and forfeited as required by the terms of the Separation Agreement and in consideration of the payment to the Trust of the Deferred Amount (as defined in the Separation Agreement) in full and final satisfaction of all obligations to Mr. Hersh under his Deferred Award Agreement.
- [F3]The phantom stock units are not subject to expiration and shall become payable within 30 days of Mr. Hersh's separation from the Company.
- [F4]The reported amount excludes 121,424 common units of limited partnership interest of Mack-Cali Realty, L.P. beneficially owned by Mr. Hersh.