CULP CLYDE E III 4
4 · ANNAPOLIS BANCORP INC · Filed Feb 1, 2011
Insider Transaction Report
Form 4
CULP CLYDE E III
Director
Transactions
- Award
Common Stock
2011-01-28+0→ 6,463 total
Holdings
- 8,888
Stock Option - (right to buy)
Exercise: $9.30Exp: 2015-06-17→ Common Stock (8,888 underlying)
Footnotes (3)
- [F1]Restricted share units granted under the Annapolis Bancorp, Inc. 2006 Stock Incentive Plan valued at $5,000 that will vest on January 27, 2012. The number of shares of Annapolis Bancorp, Inc. common stock acquired by the Reporting Person will be based on $5,000 value divided by the per share closing price of the common stock on February 18, 2011 (with cash in lieu of fractional shares).
- [F2]Includes 1,282 shares of Annapolis Bancorp, Inc. common stock underlying the restricted share units granted on January 22, 2010 under the Annapolis Bancorp, Inc. 2006 Stock Incentive Plan that vested 100% on January 28, 2011. Does not include the number of shares of common stock underlying the restricted share units granted on January 28, 2011, which will be based on $5,000 value divided by the per share closing price of the common stock on February 18, 2011.
- [F3]Option granted under the Annapolis National Bancorp, Inc. 2000 Stock Incentive Plan vests in five equal annual installments commencing on June 17, 2006.