Pedersen Brad 4
4 · BREEZE-EASTERN CORP · Filed Sep 6, 2012
Insider Transaction Report
Form 4
Pedersen Brad
DirectorChief Executive Officer
Transactions
- Award
Stock Option (Right to Buy)
2012-05-22+400,000→ 400,000 totalExercise: $8.10Exp: 2022-05-21→ Common Stock (400,000 underlying)
Footnotes (1)
- [F1]An option to purchase 50,000 shares is immediately exercisable upon grant, and the option to purchase remaining 350,000 shares vests gradually in installments of 50,000 shares based upon whether the average closing price of our common stock over a thirty-day period (the "Trailing Price") exceeds certain pre-determined thresholds within certain timeframes. Specifically, (i) options to purchase 50,000 shares will vest when the Trailing Price exceeds $8.50, (ii) at any time after May 22, 2013, options to purchase 50,000 shares and 50,000 shares will vest when the Trailing Price exceeds $9.50 and $10.50, respectively, (iii) at any time after May 22, 2014, options to purchase 50,000 shares and 50,000 shares will vest when the Trailing Price exceeds $11.50 and $12.50, respectively, and (iv) at any time after May 22, 2015, options to purchase 50,000 shares and 50,000 shares will vest when the Trailing Price exceeds $13.50 and $14.50, respectively.