Ettinger Peter 4
4 · DOCUMENT SECURITY SYSTEMS INC · Filed Dec 27, 2006
Insider Transaction Report
Form 4
Ettinger Peter
President
Transactions
- Award
Common Stock
2006-12-20$10.19/sh+310,000$3,158,900→ 360,000 total - Award
Employee Stock Option (right to buy)
2006-12-20$10.19/sh+40,000$407,600→ 40,000 totalExercise: $10.19Exp: 2011-12-19→ Common Stock (40,000 underlying)
Footnotes (3)
- [F1]Consists of shares of restricted Common Stock issued pursuant to the Company's Employee Stock Option Plan, which vest as follows: 250,000 shares that vest only upon a Change of Control of the Issuer and 60,000 shares that vest only upon the attainment of certain performance goals as indicated in Mr. Ettinger's employment agreement with the Issuer.
- [F2]Consists of shares of restricted Common Stock issued pursuant to the Company's Employee Stock Option Plan, which vest as follows: 250,000 shares that vest only upon a Change of Control of the Issuer; 60,000 shares that vest only upon the attainment of certain performance goals as indicated in Mr. Ettinger's employment agreement with the Issuer; 16,667 shares that vest on June 12, 2007; 16,667 shares that vest on June 12, 2008, and 16,666 shares that vest on June 12, 2009.
- [F3]The option vests 50% immediately and 50% on December 20, 2007.