4//SEC Filing
PIPES R BYRON 4
Accession 0001209191-05-003399
CIK 0001090061other
Filed
Jan 17, 7:00 PM ET
Accepted
Jan 18, 3:31 PM ET
Size
9.4 KB
Accession
0001209191-05-003399
Insider Transaction Report
Form 4
PIPES R BYRON
Director
Transactions
- Award
Phantom Stock
2005-01-14$5.28/sh+1,797.815$9,492→ 4,509.775 total(indirect: By Plan)Exercise: $0.00→ Common Stock (1,797.815 underlying)
Footnotes (3)
- [F1]Phantom Stock acquired under the OMNOVA Solutions Stock Fund of the OMNOVA Solutions Inc. Deferred Compensation Plan for Nonemployee Directors (the "Plan"). Under the terms of the Plan, each nonemployee director may elect, prior to the calendar year in which fees are earned, to defer all or a portion of his or her annual retainer, chairman's fees, and meeting attendance fees into one or more investment options available under the Plan, including the OMNOVA Solutions Stock Fund. Phantom stock units are credited to a director's account based on the number of shares of OMNOVA Common Stock that could have been purchased with the amount deferred at the closing price per share on the New York Stock Exchange on the date the the director's fees would otherwise have been payble to him.
- [F2]Phantom stock units are convertible 1-for-1 into OMNOVA Solutions Common Stock and are payable in cash in a lump sum or in up to ten annual installments (as elected by the director) commencing at the date elected by the director at the time he or she elects to defer compensation pursuant to the Plan, except under certain circumstances where the Plan provides for earlier distribution of his or her account balance.
- [F3]In addition to phantom stock units credited based on director?s fees deferred pursuant to the Plan, the shares acquired also include 1,182.2848 phantom units of OMNOVA Common Stock credited to the director?s account as a result of the conversion of GenCorp phantom stock. The phantom units of GenCorp had been credited to the director?s account prior to the spin-off of OMNOVA Solutions in October 1999. The GenCorp phantom stock was converted to OMNOVA phantom stock by multiplying the number of phantom shares of GenCorp Common Stock credited to the director?s account by the closing price per share of GenCorp Common Stock on Friday, January 14, 2005, and dividing the resulting value by the closing price per share of OMNOVA Common Stock on Friday, January 14, 2005, to arrive at the number of OMNOVA phantom stock units to be credited to the director?s account.
Issuer
OMNOVA SOLUTIONS INC
CIK 0001090061
Entity typeother
Related Parties
1- filerCIK 0001232576
Filing Metadata
- Form type
- 4
- Filed
- Jan 17, 7:00 PM ET
- Accepted
- Jan 18, 3:31 PM ET
- Size
- 9.4 KB