Kelly Ian E 4
4 · WEATHERFORD INTERNATIONAL LTD · Filed May 1, 2006
Insider Transaction Report
Form 4
Kelly Ian E
Sr VP & Pres PDI Division
Transactions
- Award
Phanton Stock Units
2006-04-30+328→ 2,132 total→ Common Shares (328 underlying)
Footnotes (2)
- [F1]The phantom stock units convert to common shares on a one-for-one basis.
- [F2]The phantom stock units were credited under the Company's Foreign Executive Deferred Compensation Stock Plan (the "FEDC"). The phantom stock units credited are based upon the Company's allocation of 15% of the participant's compensation. All units credited under the FEDC vest at 20% per year for each year of service. Distributions under the FEDC are made upon termination of employment, retirement or death of the participant.