IORIZZO ROBERT P 4
4 · NORTHROP GRUMMAN CORP /DE/ · Filed Aug 22, 2003
Insider Transaction Report
Form 4
IORIZZO ROBERT P
Corp. VP & Pres. Electric Sys.
Transactions
- Award
Stock Options (Right-to-Buy)
2003-08-20$94.22/sh+22,000$2,072,840→ 22,000 totalExercise: $94.22From: 2004-08-20Exp: 2013-08-19→ Common Stock (22,000 underlying) - Award
Common Stock
2003-08-20$94.22/sh+12,000$1,130,640→ 42,493 total
Footnotes (3)
- [F1]Total includes 1,320 remaining unvested Restricted Stock Rights granted pursuant to the 1993 Long Term Incentive Stock Plan (LTISP); the last two installments vest in increments of 660 shares on 11/22/03 and 11/22/04; 2,167 Restricted Performance Stock Rights (RPSRs) granted under the 1993 LTISP as to which the measurement period for the initial installment is 12/16/98 to 12/31/01 with performance determined subsequent thereto with delivery of shares made in 2002 and 2003. The measurement period for the two remaining installments will end on 12/31/03 with payments to be made in the following years 12/31/04 and 12/31/05; 12,000 RPSRs granted under the 2001 LTISP on 8/15/01 with the measurement period ending on 12/31/04; 9,000 RPSRs granted under the 2001 LTISP on 8/20/02 with the measurement period ending on 12/31/05; and 12,000 RPSRs granted under the 2001 LTISP on 8/20/03 with the measurement period ending on 12/31/06.
- [F2]The option vests in four equal annual installments commencing on August 20, 2004.
- [F3]Represents total options held under 8/20/03 grant.