HESS DONALD E 4
4 · SAKS INC · Filed Jun 4, 2012
Insider Transaction Report
Form 4
SAKS INCSKS
HESS DONALD E
Director
Transactions
- Award
Phantom Stock
2012-05-31$9.86/sh+9,128$90,002→ 9,128 total→ Common Stock (9,128 underlying)
Footnotes (1)
- [F1]The phantom stock represents the award to the reporting person of $90,000 of restricted stock as part of Saks's annual compensation of non-employee directors. The reporting person elected to defer receipt of the award, which will instead become payable to the reporting person, upon vesting, in 15 annual installments beginning in February of the year following the year in which the reporting person retires. Each share of phantom stock represents the right to receive one share of SKS common stock or, at the reporting person's election, the cash value thereof.