4//SEC Filing
MASLOWE PHILIP 4
Accession 0001209191-04-002490
CIK 0000882287other
Filed
Jan 11, 7:00 PM ET
Accepted
Jan 12, 11:55 AM ET
Size
8.1 KB
Accession
0001209191-04-002490
Insider Transaction Report
Form 4
MASLOWE PHILIP
Director
Transactions
- Award
Deferred Restricted Stock
2003-12-16+7,500→ 7,500 totalExp: 2012-05-15→ Restricted Common Stock (7,500 underlying) - Disposition to Issuer
Option to Purchase Common Stock
2003-12-16−25,000→ 0 totalExercise: $20.12Exp: 2012-05-15→ Common Stock (25,000 underlying)
Footnotes (5)
- [F1]The reporting person received the options pursuant to the 2002 Outside Directors' Stock Option Plan (the "2002 Plan") and the form of Stock Option Agreement (the "Stock Option Agreement") issued pursuant thereto. The options were cancelled by mutual agreement between the reporting person and Mariner Health Care, Inc. ("Mariner"). The reporting person received 7,500 shares of restricted common stock, par value $0.01, of Mariner as consideration for the cancellation.
- [F2]Option to vest and become exercisable with respect to (i) 25% of the shares of Common Stock originally subject to the option on the date of grant, which was May 15, 2002, and (ii) an additional 25% on each of the three subsequent anniversaries of the grant date provided that Mr. Maslowe shall continue to serve as a director of Mariner except as otherwise provided by the terms set forth in the 2002 Plan and the Stock Option Agreement.
- [F3]Mr. Maslowe was granted 7,500 shares of common stock, par value $0.01, of Mariner pursuant to the terms set forth in that certain Deferred Restricted Stock Agreement Pursuant to the Mariner Health Care, Inc. 2003 Outside Directors' Stock Incentive Plan (the "2003 Plan").
- [F4]The restricted stock was issued to the reporting person in exchange for the cancellation of the reporting person's existing stock options at a ratio of 0.3 shares of restricted stock per each cancelled option.
- [F5]The Restricted Unit Grant shall become vested as to 50% of the Restricted Units as of the grant date under the 2003 Plan. On each of May 16, 2004 and May 16, 2005, the Restricted Unit Grant shall become vested as to an additional 25% of the Restricted Units if the reporting person has continuously served as a director of Mariner. Any of the Restricted Units which are not vested at the time that the reporting person ceases to be a director of Mariner shall be forfeited to Mariner.
Documents
Issuer
MARINER HEALTH CARE INC
CIK 0000882287
Entity typeother
Related Parties
1- filerCIK 0001202989
Filing Metadata
- Form type
- 4
- Filed
- Jan 11, 7:00 PM ET
- Accepted
- Jan 12, 11:55 AM ET
- Size
- 8.1 KB