MERCHANTS BANCSHARES INC 4
4 · MERCHANTS BANCSHARES INC · Filed Oct 26, 2016
Insider Transaction Report
Form 4
Bombardier Janette K
Director
Transactions
- Award
Common Stock
2016-10-24$32.56/sh+288$9,377→ 4,397 total
Footnotes (1)
- [F1]Represents shares of common stock underlying phantom stock units granted in accordance with the terms of the Issuer's 2008 Compensation Plan for Non-Employee Directors and Trustees (the "Plan"). Each phantom stock unit represents a contingent right to receive one share of the Issuer's common stock. The shares of phantom stock will become payable in common stock in seven equal annual installments commencing on the Reporting Person's 65th birthday and are subject to partial forfeiture by the Reporting Person, all as more fully described in the Plan.