GOLDBERG RICHARD L 4
4 · COMTECH TELECOMMUNICATIONS CORP /DE/ · Filed Jun 8, 2012
Insider Transaction Report
Form 4
GOLDBERG RICHARD L
Director
Transactions
- Award
Restricted Stock Units
2012-06-06+3,167→ 3,167 total→ Common stock par value $.10 per share (3,167 underlying)
Footnotes (2)
- [F1]As required under the Comtech Telecommunications Corp. 2000 Stock Incentive Plan, as amended, the restricted stock units are granted to the reporting person in lieu of the annual automatic grant of 15,000 non-qualified stock options to enable the reporting person to meet the minimum stock ownership interest guidelines. Each restricted stock unit represents a contingent right to receive one share of common stock of Comtech Telecommunications Corp. upon vesting of the unit.
- [F2]Generally, the restricted stock units will vest in installments over a three year period, at a rate of 25% on the first and second anniversaries of grant and 50% on the third anniversary of the date of grant, assuming continued service as a director. Shares of common stock corresponding to vested units will be delivered to the reporting person within 30 days of termination of directorship.