MCSTAY RICHARD A 4

4 · TBC CORP · Filed Apr 22, 2005

Form 4

Period: 2005-04-22

Director

Transactions

Exercise/Conversion
Common Stock
2005-04-22$5.50/sh+1,212$6,666→ 31,901 total
Exercise/Conversion
Common Stock
2005-04-22$7.19/sh+928$6,672→ 32,526 total
Exercise/Conversion
Stock Option (right to buy)
2005-04-22−928→ 924 total
Exercise: $7.19From: 2002-04-25Exp: 2005-04-25→ Common Stock (928 underlying)
Exercise/Conversion
Stock Option (right to buy)
2005-04-22−468→ 932 total
Exercise: $14.30From: 2003-04-24Exp: 2005-04-24→ Common Stock (468 underlying)
Disposition to Issuer
Common Stock
2005-04-22−232→ 32,294 total
Exercise/Conversion
Common Stock
2005-04-22$14.30/sh+468$6,692→ 32,762 total
Disposition to Issuer
Common Stock
2005-04-22−117→ 32,645 total
Exercise/Conversion
Stock Option (right to buy)
2005-04-22−1,212→ 0 total
Exercise: $5.50From: 2001-04-26Exp: 2005-04-26→ Common Stock (1,212 underlying)
Disposition to Issuer
Common Stock
2005-04-22−303→ 31,598 total

Footnotes (5)

[F1]Under the TBC Corporation 1989 Stock Incentive Plan (the "Plan"), prior to 2003, each non-employee director was granted, on the date of each Annual Meeting of Stockholders, shares of restricted stock having an aggregate then current fair market value of $5,000. The director was concurrently granted an option giving him the right to buy four times the number of restricted shares that he was granted. The option expires in one-third increments as the restricted stock vests, and the exercise of any portion of the option will cause the forfeiture of the associated restricted stock. The exercise of the option is also subject to certain conditions stated in the Plan.
[F2]Exercise of tandem options. See (1).
[F3]Forfeiture of restricted stock upon exercise of tandem options. See (1).
[F4]Mr. McStay also has indirect ownership of 1,518 shares of TBC Common Stock owned by his wife.
[F5]Represents the balance of tandem options still outstanding under the respective annual grant.

Documents

1 file