RAIMONDI THOMAS P JR 4
4 · MTI TECHNOLOGY CORP · Filed Feb 14, 2005
Insider Transaction Report
Form 4
RAIMONDI THOMAS P JR
DirectorChairman, President and CEO
Transactions
- Award
Common Stock (restricted shares)
2005-02-10$0.01/sh+200,000$2,000→ 252,000 total - Award
Employee Stock Option (Right to Buy)
2005-02-10+300,000→ 1,288,738 totalExercise: $2.70Exp: 2015-02-10→ Common Stock (300,000 underlying)
Footnotes (3)
- [F1]Award of restricted stock shares under the MTI 2001 Stock Incentive Plan. 3 year Vesting: These shares shall vest 33.3% per year on each anniversary date of the grant such that the shares will be one hundred percent (100%) vested after three (3) years. All unvested shares shall be forfeited upon termination of employment.
- [F2]These options were granted under the MTI 2001 Stock Incentive Plan. 36-month (3 year) Vesting with 6-month Cliff and Monthly Thereafter: Six-thirty-sixths (6/36th) of the shares subject to the Option shall vest six (6) months after the Vesting Commencement Date. One-thirtieth (1/30th) of the remaining unvested shares subject to the Option shall vest at the end of the 7th month and each month thereafter, such that the Option will be one hundred percent (100%) vested after thirty-six (36) months of Continuous Services from the Vesting Commencement Date.
- [F3]Includes 52,000 shares of common stock directly owned by the reporting person.