JERNEYCIC FRANK M 4
4 · CHILDTIME LEARNING CENTERS INC · Filed Aug 5, 2003
Insider Transaction Report
Form 4
JERNEYCIC FRANK M
VP, Treasurer, & CFO
Transactions
- Award
Employee Right to Purchase
2003-08-01$0.90/sh+47,000$42,300→ 47,000 totalExercise: $0.90From: 2003-08-01Exp: 2003-08-09→ Common Stock (47,000 underlying) - Award
Employee Right to Purchase
2003-08-01$2.12/sh+19,800$41,976→ 19,800 totalExercise: $2.12From: 2003-08-01Exp: 2003-08-12→ Common Stock (19,800 underlying) - Award
Employee Stock Option Plan - Right to Purchase
2003-08-01$2.12/sh+113,000$239,560→ 113,000 totalExercise: $2.12From: 2004-08-01Exp: 2009-08-01→ Common Stock (113,000 underlying)
Footnotes (3)
- [F1]Reporting Person is permitted to acquire up to 47,000 shares of Issuer's Common Stock pursuant to this Right to Purchase. If Reporting Person purchases less than 100,000 shares pursuant to this Right to Purchase, the number of shares subject to the Option granted to Reporting Person on May 7, 2003, will be reduced to equal the number of shares actually purchased by Reporting Person under this Right to Purchase.
- [F2]Reporting Person is permitted to acquire up to 19,800 shares of Issuer's Common Stock pursuant to this Right to Purchase. If Reporting Person purchases less than 19,800 shares pursuant to this Right to Purchase, the number of shares subject to the Option granted to Reporting Person on the Transaction Date, will be reduced proportionately (see note 3 below).
- [F3]The Option vests at a rate of 22,600 shares per year, for five years, on each anniversary of the Transaction Date, commencing August 1, 2004. The Option vests immediately upon a change in control of the Issuer. In addition, the vesting of the shares subject to the Option is further subject to Reporting Person purchasing 19,800 shares from Issuer, pursuant to the Right to Purchase granted on the Transaction Date at $2.12 per share, within 11 days after the Transaction Date. If Reporting Person purchases fewer shares pursuant to such Right to Purchase, the number of shares subject to the Option will be reduced proportionately, with a number of shares equal to the amount of the reduction being forfeited.