4//SEC Filing
LEBLANC STEVEN R 4
Accession 0001181431-04-060886
CIK 0000915773other
Filed
Dec 26, 7:00 PM ET
Accepted
Dec 27, 9:23 PM ET
Size
22.4 KB
Accession
0001181431-04-060886
Insider Transaction Report
Form 4
LEBLANC STEVEN R
DirectorPresident and CEO
Transactions
- Award
Common Stock
2004-01-01$24.23/sh+4,992$120,956→ 309,514 total - Exercise/Conversion
Common Stock
2004-12-23$19.13/sh+2,500$47,813→ 297,516 total - Exercise/Conversion
Employee Stock Option (right to buy)
2004-12-23$19.13/sh−25,000$478,125→ 0 totalExercise: $19.13Exp: 2008-07-01→ Common Stock (25,000 underlying) - Tax Payment
Common Stock
2004-12-23$32.50/sh−14,711$478,108→ 282,805 total - Disposition to Issuer
Common Stock
2004-12-22$32.89/sh−36,998$1,216,864→ 272,516 total - Disposition to Issuer
Employee Stock Option (right to buy)
2004-12-22$10.89/sh−240,000$2,613,600→ 0 totalExercise: $22.00Exp: 2012-02-06→ Common Stock (240,000 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
2004-12-22$13.77/sh−150,000$2,064,750→ 25,000 totalExercise: $19.13Exp: 2008-07-01→ Common Stock (150,000 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
2004-12-22$8.33/sh−11,431$95,192→ 12,569 totalExercise: $24.56Exp: 2011-01-09→ Common Stock (11,431 underlying)
Footnotes (12)
- [F1]This transaction was not previously reported, however beneficial ownership of the shares by the Reporting Person was disclosed in the Registrant's Proxy Statement for its annual meeting in 2004.
- [F10]The Reporting Person received $95,191.65 as consideration for the cancellation of these stock options.
- [F11]Prior to acceleration by the Board of Directors on December 17, 2004, the option vested in five installments, 36,000 on March 1, 2003, 48,000 on March 1, 2004, 2005 and 2006, and 60,000 on March 1, 2007.
- [F12]The Reporting Person received $2,613,600 as consideration for the cancellation of these stock options.
- [F2]Includes 35,750 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: 11,000 of March 1, 2005 and 2006; and the final 13,750 shares on March 1, 2007 (subject to acceleration under certain circumstances).
- [F3]On December 17, 2004, the Company's Board of Directors accelerated the vesting of certain shares of restricted stock and performance based stock awards held by the Reporting Person, and the restricted stock and performance based stock awards were subsequently cancelled by mutual agreement of the Reporting person and the Company. The Reporting Person received $1,216,864.22 as consideration for the cancellation of the restricted stock.
- [F4]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.
- [F5]The option vested in five equal installments on July 7, 1998, 1999, 2000, 2001 and 2002.
- [F6]The Reporting Person received $2,064,750 as consideration for the cancellation of these stock options.
- [F7]The option vested in five equal installments on December 13, 1999, 2000, 2001, 2002 and 2003.
- [F8]The Reporting Person received $2,336,625 as consideration for the cancellation of these stock options.
- [F9]Prior to acceleration by the Board of Directors on December 17, 2004, the option vested in five equal installments on January 9, 2001, 2002, 2003, 2004 and 2005.
Documents
Issuer
SUMMIT PROPERTIES INC
CIK 0000915773
Entity typeother
Related Parties
1- filerCIK 0001215401
Filing Metadata
- Form type
- 4
- Filed
- Dec 26, 7:00 PM ET
- Accepted
- Dec 27, 9:23 PM ET
- Size
- 22.4 KB