HACKER TAMIR 4
4 · KITTY HAWK INC · Filed Sep 26, 2003
Insider Transaction Report
Form 4
KITTY HAWK INCKTHK
HACKER TAMIR
Director
Transactions
- Exercise/Conversion
Stock Option (right to buy)
2003-09-24−225,000→ 0 totalExercise: $0.30Exp: 2013-07-29→ Common Stock (225,000 underlying) - Exercise/Conversion
Common Stock
2003-09-24$0.30/sh+225,000$67,500→ 225,000 total
Footnotes (2)
- [F1]On September 24, 2003, the reporting person exercised a stock option to purchase 225,000 shares of Common Stock (the "Stock Option") that was granted to the reporting person pursuant to the Kitty Hawk 2003 Long Term Equity Incentive Plan (the "Plan"). Under the terms of the Plan, the shares of Common Stock issued to the reporting person upon exercise of the Stock Option are subject to the same vesting restrictions that were applicable to the Stock Option, and any unvested shares of Common Stock are treated as restricted stock under the Plan. As a result, of the 225,000 shares of Common Stock issued to the reporting person upon exercise of the Stock Option, 68,750 shares were vested on September 24, 2003 and the remaining 156,250 shares vest in 25 equal monthly installments, beginning October 1, 2003.
- [F2]Not applicable.