LAUSEN FREDERICK R 4
4 · ROWAN COMPANIES INC · Filed May 2, 2006
Insider Transaction Report
Form 4
LAUSEN FREDERICK R
Director
Transactions
- Award
Restricted Stock Units
2006-04-28+2,000→ 2,000 total→ Common Stock (2,000 underlying)
Footnotes (2)
- [F1]Each restricted stock unit represents a contingent right to receive one share of Rowan Companies, Inc. common stock.
- [F2]The restricted stock units vest on the date of the next annual meeting of stockholders. Vested shares (and any accrued dividends) will be delivered to the reporting person after the final termination date of the reporting person's service on the Board of Directors. At the election of the Compensation Committee, such payout may be made in cash or shares.