TWITTER, INC. 4
4 · TWITTER, INC. · Filed Nov 7, 2013
Insider Transaction Report
Form 4
TWITTER, INC.TWTR
CHERNIN PETER
Director
Transactions
- Award
Common Stock
2013-11-06+200,000→ 200,000 total(indirect: See footnote)
Footnotes (3)
- [F1]The reported shares are represented by restricted stock units, or RSUs, which will vest upon the satisfaction of both a performance condition and a service condition. The performance condition will be satisfied on the earlier of (i) March 8, 2014 (which the Issuer may elect to accelerate to February 15, 2014) and (ii) the date of a change in control. The service condition will be satisfied as to 1/4th of the total number of shares of common stock underlying the RSUs on December 1, 2013. Thereafter, but prior to satisfaction of the performance condition, an additional 1/48th of the total number of shares of common stock underlying the RSUs vests in monthly installments. After satisfaction of the performance condition, an additional 3/48th of the total number of shares of common stock underlying the RSUs will vest in quarterly installments.
- [F2]Of the reported shares, 200,000 shares are represented by RSUs.
- [F3]The shares are held of record by The Chernin Group, LLC for which the Reporting Person serves as chairman.