FITZPATRICK ALAN 4

4 · US LEC CORP · Filed Aug 6, 2003

Form 4

Period: 2003-08-01

Senior VP, Engineering

Transactions

Disposition to Issuer
Employee Stock Option (right to buy)
2003-01-29−35,000→ 23,000 total
Exercise: $6.06Exp: 2010-10-19→ Class A Common Stock (35,000 underlying)
Disposition to Issuer
Employee Stock Option (right to buy)
2003-01-29−5,000→ 18,000 total
Exercise: $5.03Exp: 2011-12-31→ Class A Common Stock (5,000 underlying)
Disposition to Issuer
Employee Stock Option (right to buy)
2003-01-29−3,000→ 15,000 total
Exercise: $5.81Exp: 2011-01-10→ Class A Common Stock (3,000 underlying)
Award
Employee Stock Option (right to buy)
2003-08-01$4.06/sh+53,000$215,180→ 58,000 total
Exercise: $4.06Exp: 2013-08-01→ Class A Common Stock (53,000 underlying)
Disposition to Issuer
Employee Stock Option (right to buy)
2003-01-29−10,000→ 5,000 total
Exercise: $4.11Exp: 2011-04-19→ Class A Common Stock (10,000 underlying)

Holdings

Footnotes (7)

[F1]Total amount of securities beneficially owned as of August 5, 2003 reflects an increase due to reporting person's participation in the US LEC Corp. Employee Stock Purchase Plan.
[F2]These options were exercisable at various dates in accordance with the option grants made under issuer's 1998 Omnibus Stock Plan.
[F3]On January 29, 2003, issuer canceled an option to purchase 35,000 shares of our Class A common stock at $6.0625 per share.
[F4]On January 29, 2003, issuer canceled an option to purchase 5,000 shares of our Class A common stock at $5.0300 per share.
[F5]On January 29, 2003, issuer canceled an option to purchase 3,000 shares of our Class A common stock at $5.8125 per share.
[F6]On January 29, 2003, issuer canceled an option to purchase 10,000 shares of our Class A common stock at $4.11 per share.
[F7]This option was granted in exchange for the options that were canceled as described in the preceding footnotes. This option becomes exercisable in accordance with the terms set forth in the issuer's Offer to Exchange, dated December 20, 2002.

Documents

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