Graves James Douglas 4
4 · NATCO GROUP INC · Filed Jun 26, 2006
Insider Transaction Report
Form 4
Graves James Douglas
Vice President & Controller
Transactions
- Award
Stock Option (Right to Buy)
2006-06-22+2,586→ 2,586 totalExercise: $37.78Exp: 2016-06-22→ Common stock (2,586 underlying) - Award
Common stock - restricted stock
2006-06-22$37.78/sh+1,466$55,393→ 1,666 total
Footnotes (2)
- [F1]Restrictions on this grant of restricted stock lapse (a) as to all of the shres on August 15, 2009, provided that the Company has achieved an earnings per share of at least $2.25 calculated on a trailing twelve months basis as of the last day of a quarter, for three consecutive quarters; provided further that (i) earnings per share may be normalized in certain circumstances and (ii) the recipient has continuously served as an employee from the date of the award until such date or, (b) if earlier, pursuant to the applicable incentive plan or upon occurrence of a Corporate Change as defined in such plan, provided, in either case, that the recipient has been continuously employed by the Company or a subsidiary on such date or the date of such Corporate Change. The shares are subject to forfeiture upon termination of employment prior to the time the restrictions lapse or if the performance restrictions are not met on or before August 15, 2009.
- [F2]Options vest in one-third increments on the first, second and third anniversaries of the date of grant, subject to continued employment by the Company or a subsidiary on the applicable date. The first third will vest on June 22, 2007.