HYDRIL CO 4
4 · HYDRIL CO · Filed May 9, 2007
Insider Transaction Report
Form 4
HYDRIL COHYDL
MCCORMICK KENNETH S
Director
Transactions
- Disposition to Issuer
Deferred Share Unit
2007-05-07$97.00/sh−6,500$630,500→ 0 total→ Common Stock (6,500 underlying) - Disposition to Issuer
Employee stock option (right ot buy)
2007-05-07$68.21/sh−1,001$68,278→ 0 totalExercise: $28.79Exp: 2014-06-01→ Common Stock (1,001 underlying)
Footnotes (2)
- [F1]The reporting person was granted 2,500, 2,000 and 2,000 deferred share units on June 1, 2004, 2005 and 2006, respectively. The deferred share units were to vest and become payable in full on the third anniversary of the grant date. Upon vesting, the deferred share units are settled in cash at the fair market value of the common stock on a one-for-one basis. The units were cancelled pursuant to the merger between the issuer and Tenaris, S.A. in exchange for a payment of $97.00 per unit.
- [F2]The reporting person was granted options to purchase 3,000 shares of common stock on June 1, 2004, which became exercisable in three equal installments beginning June 1, 2005. The unexercised portion of these options were cancelled in the merger in exchange for a payment of $68.21 per share, representing the difference between $97.00 and the exercise price of the options.