BASSO DONALD V 4
4 · MAGELLAN PETROLEUM CORP /DE/ · Filed Dec 16, 2010
Insider Transaction Report
Form 4
BASSO DONALD V
Director
Transactions
- Award
Non-qualified Stock option (right to buy)
2010-04-01+25,000→ 125,000 totalExercise: $2.24Exp: 2020-04-01→ Common Stock (25,000 underlying)
Footnotes (2)
- [F1]On April 1, 2010, the reporting person was awarded 25,000 non-qualified stock options pursuant to the Company's 1998 Stock Incentive Plan. The stock options have an exercise price of $2.24 per share and will expire on April 1, 2020. The award of the stock options was expressly conditioned upon the receipt of shareholder approval of the replenishment and amendment of the Company's 1998 Stock Incentive Plan, which shareholder approval was obtained on December 8, 2010. The award of the stock options was previously reported by the reporting person on a Form 4 filed on April 5, 2010.
- [F2]The awarded stock options vest as follows: (1) one-third of the award (8,333 shares) will vest on April 1, 2011, (2) one-third of the award (8,333 shares) will vest on April 1, 2012, and (3) one-third of the award (8,334 shares) will vest on April 1, 2013.