4//SEC Filing
Malone Michael 4
Accession 0001181431-04-060884
CIK 0000915773other
Filed
Dec 26, 7:00 PM ET
Accepted
Dec 27, 9:22 PM ET
Size
10.2 KB
Accession
0001181431-04-060884
Insider Transaction Report
Form 4
Malone Michael
Senior Vice President
Transactions
- Award
Common Stock
2004-01-01$24.23/sh+811$19,651→ 79,171 total - Disposition to Issuer
Common Stock
2004-12-22$32.89/sh−2,360$77,620→ 76,811 total - Disposition to Issuer
Employee Stock Option (right to buy)
2004-12-22$10.89/sh−26,810$291,961→ 8,190 totalExercise: $22.00Exp: 2012-02-06→ Common Stock (26,810 underlying)
Footnotes (5)
- [F1]Includes 2,157 shares of Common Stock that the Reporting Person has the opportunity to receive subsequent to January 1, 2004 pursuant to a stock award agreement with the Issuer. Subject to the Reporting Person's continued employment with the Issuer, the number of shares that the Reporting Person will be entitled to receive is based on the following schedule: 663 shares on each of March 1, 2005 and 2006; and the final 831 shares on March 1, 2007 (subject to acceleration under certain circumstances).
- [F2]On December 17, 2004, the Company's Board of Directors accelerated the vesting of certain shares of restricted stock held by the Reporting Person, and the restricted stock and performance based stock awards were subsuquently cancelled by mutual agreement of the Reporting Person and the Company. The Reporting Person received $ 77,620.40 as consideration for the cancellation of the restricted stock.
- [F3]On December 17, 2004, the Company's Board of Directors accelerated the vesting of certain stock options held by the Reporting Person, and such stock options were subsequently cancelled by mutual agreement of the Reporting Person and the Company.
- [F4]Prior to acceleration by the Board of Directors on December 17, 2004, the option vested in five installments, 5,250 on March 1, 2003, 7,000 on March 1, 2004, 2005 and 2006, and 8,750 on March 1, 2007.
- [F5]The Reporting Person received $291,960.90 as consideration for the cancellation fo these stock options.
Documents
Issuer
SUMMIT PROPERTIES INC
CIK 0000915773
Entity typeother
Related Parties
1- filerCIK 0001292197
Filing Metadata
- Form type
- 4
- Filed
- Dec 26, 7:00 PM ET
- Accepted
- Dec 27, 9:22 PM ET
- Size
- 10.2 KB