PHOTOMEDEX INC 4
4 · PHOTOMEDEX INC · Filed Aug 13, 2007
Insider Transaction Report
Form 4
PHOTOMEDEX INCPHMD
STEWART MICHAEL R
Chief Operating Officer
Transactions
- Award
Common Stock (Restricted)
2007-08-13$0.01/sh+157,500$1,575→ 228,940 total
Footnotes (1)
- [F1]The shares have been granted pursuant to the Company's 2005 Equity Compensation Plan (the "2005 Equity Plan"), and are subject to the Company's right of repurchase based on certain performance and time restrictions following the date of award. The right of repurchase will lapse on 20% of the shares for each year, during the twelve-month periods ending August 13, 2008 through 2012, in which the price of the Company's common stock achieves certain specified target prices. Thereafter, to the extent that such shares remain subject to repurchase by the Company, the Company's right to repurchase lapses ratably on the shares during each of the fifth, sixth and seventh anniversaries of the date of award. Certain vesting provisions with respect to performance restrictions of the shares apply in the event of a change of control of the Company based on the per-share purchase price paid or deemed paid in connection with such change in control.