Giancola James J 4
4 · MIDWEST BANC HOLDINGS INC · Filed Jan 5, 2006
Insider Transaction Report
Form 4
Giancola James J
DirectorPresident and CEO
Transactions
- Disposition to Issuer
Employee Stock Option (right to buy)
2006-01-01−100,000→ 0 totalExercise: $22.25→ Common (100,000 underlying) - Award
Common Stock
2006-01-01+29,316→ 225,316 total
Holdings
- 21,000(indirect: By Spouse)
Common Stock
Footnotes (2)
- [F1]Mr. Giancola received 150,000 restricted shares of common stock of the Issuer. 30,000 of these shares vested as of January1, 2005 and 30,000 shares vested as of January 1, 2006, and the remaining shares will vest 30,000 each on January 1st of 2007, 2008, and 2009 provided Mr. Giancola is still employed pursuant to the terms of his employment agreement.
- [F2]The Issuer agreed to cancel an option for 100,000 shares of common stock (effective January 1, 2006) which the reporting person was entitled to receive pursuant to his employment agreement on January 1, 2006. This option was canceled. In exchange for the option, the reporting person received 29,316 shares of restricted stock (effective January 1, 2006) which will vest five years from the date of issuance subject to an acceleration provision which permits earlier vesting if certain performance goals are met.