PITTS JAMES F 4
4 · NORTHROP GRUMMAN CORP /DE/ · Filed Feb 17, 2012
Insider Transaction Report
Form 4
PITTS JAMES F
Corp VP & Pres, Electron. Sys.
Transactions
- Award
Restricted Stock Rights
2012-02-15+18,860→ 35,713 total→ Common Stock (18,860 underlying) - Award
Restricted Performance Stock Rights
2012-02-15+48,068→ 99,483 total→ Common Stock (48,068 underlying)
Footnotes (4)
- [F1]Each Restricted Performance Stock Right ("RPSR") represents a contingent right to receive an equivalent number of shares of Issuer common stock, or, at the election of the Issuer's Compensation Committee, cash or a combination of cash and Issuer common stock. The RPSRs vest if the applicable performance metric is satisfied for the three-year performance period ending December 31, 2014.
- [F2]Total amount includes 48,068 unvested RPSRs granted under the 2011 Long-Term Incentive Stock Plan ("LTISP") on 2/15/12 with the valuation of performance measurement period ("measurement period") ending on 12/31/14; 34,562 unvested RPSRs granted under the 2001 Long-Term Incentive Stock Plan ("2001 LTISP") on 2/16/10 with a measurement period ending on 12/31/12; and 16,853 unvested RPSRs granted under the 2001 LTISP on 2/15/11 with a measurement period ending on 12/31/13. Grants awarded pursuant to Rule 16b-3(d).
- [F3]Each Restricted Stock Right ("RSR") represents a contingent right to receive an equivalent number of shares of Issuer common stock, or, at the election of the Issuer's Compensation Committee, cash or a combination of cash and Issuer common stock. The RSRs were granted under the LTISP on 2/15/12 and will vest on 2/15/15.
- [F4]Total amount includes 18,860 unvested RSRs granted under the LTISP on 2/15/12 that will vest on 2/15/15; and 16,853 RSRs granted under the 2001 LTISP on 2/15/11 that will vest on 2/15/15. Grants awarded pursuant to Rule 16b-3(d).