4//SEC Filing
TBC CORP 4
Accession 0001209191-05-031037
CIK 0000718449operating
Filed
Jun 8, 8:00 PM ET
Accepted
Jun 9, 10:05 AM ET
Size
8.7 KB
Accession
0001209191-05-031037
Insider Transaction Report
Form 4
TBC CORPTBCC
DUNLAP MICHAEL E
Director
Transactions
- Award
Stock Option (right to buy)
2005-06-07+1,544→ 1,544 totalExercise: $25.91From: 2006-06-07→ Common Stock (1,544 underlying) - Award
Common Stock
2005-06-07+386→ 2,686 total
Footnotes (3)
- [F1]Under the TBC Corporation 1989 Stock Incentive Plan (the "Plan"), each non-employee director of the Company is automatically granted, on the date of each Annual Meeting of Stockholders, shares of restricted stock having an aggregate fair market value of $10,000 based upon the closing price of the Company's Common Stock on the date of the Annual Meeting. The director is 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]Mr. Dunlap also has indirect beneficial ownership of 2,795 shares of TBC Common Stock owned by his minor children and 8,000 shares of TBC Common Stock owned by a trust established for the benefit of his minor children. In addition, Dunlap & Kyle Co., Inc. owns 2,600 shares of TBC Common Stock. Mr. Dunlap disclaims beneficial ownership of the 2,600 shares owned by Dunlap & Kyle Co., Inc., and the filing of this Report shall not be deemed an admission that Mr. Dunlap is the beneficial owner of these shares for purposes of Section 16 or for any other purposes.
- [F3]The option expires in three equal annual installments beginning on June 7, 2008.
Documents
Issuer
TBC CORP
CIK 0000718449
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0000718449
Filing Metadata
- Form type
- 4
- Filed
- Jun 8, 8:00 PM ET
- Accepted
- Jun 9, 10:05 AM ET
- Size
- 8.7 KB