CASAGRANDE JOHN L 4
4 · WESTBOROUGH FINANCIAL SERVICES INC · Filed Aug 22, 2003
Insider Transaction Report
Form 4
CASAGRANDE JOHN L
DirectorSenior V.P. and Treasure
Transactions
- Exercise/Conversion
Common Stock, par value $.01 per share
2003-08-20$10.31/sh+1,800$18,562→ 1,800 total - Disposition to Issuer
Stock Option (right to buy)
2003-08-20−1,800→ 2,700 totalExercise: $10.31Exp: 2011-01-25→ Common Stock (1,800 underlying) - Sale
Common Stock, par value $.01 per share
2003-08-20$29.15/sh−1,800$52,470→ 1,200 total(indirect: By RRP)
Holdings
- 508(indirect: In ESOP)
Common Stock, par value $.01 per share
- 1,781(indirect: By 401(k))
Common Stock, par value $.01 per share
Footnotes (3)
- [F1]Includes 1,200 shares which reflects a restricted stock award granted to the reporting person under the Westborough Financial, Inc. 2001 Recognition and Retention Plan. These shares were awarded to the reporting person and are held in trust on behalf of the reporting person, subject to vesting. The remaining portion of the restricted stock award vests as follows: 400 shares each on April 30, 2004, 2005 and 2006.
- [F2]Consists of shares allocated to the reporting person's account under the Employee Stock Ownership Plan of Westborough Financial Services, Inc. (the "ESOP"). Pursuant to Rule 16a-3(f)(l)(i)(B), this non-discretionary transaction occuring under the ESOP, a tax-qualified plan, is exempt from the reporting requirements of Section 16(a) of the Securities and Exchange Act of 1934, as amended.
- [F3]Reflects stock options granted to the reporting person under the Westborough Financial Services, Inc. 2001 Stock Option Plan which vest in 20% increments on an annual basis, with the first installment scheduled to vest on January 25, 2002.