SHAPIRO ARMAND S 4
4 · BINDVIEW DEVELOPMENT CORP · Filed May 28, 2004
Insider Transaction Report
Form 4
SHAPIRO ARMAND S
Director
Transactions
- Award
Option to Buy
2004-05-27+25,000→ 25,000 totalExercise: $2.56From: 2004-09-02Exp: 2013-09-02→ Common Stock (25,000 underlying)
Footnotes (2)
- [F1]This option was granted by the Board of Directors on 9/2/03, subject to shareholder approval of an increase in the number of shares of the Company's common stock reserved for issuance of stock-option grants under the non-employee director stock option plan. The increase was approved at the annual meeting of shareholders on 5/27/04.
- [F2]This option shall vest and become exercisable over three years as follows: 1-year "cliff": 1/3 of the shares on the first anniversary of the Grant Date; and quarterly vesting thereafter: 1/12 of the shares every third month after the first anniversary of the Grant Date, on the same day of such third month as the day of the month of the Grant Date, until the option is fully vested.