4//SEC Filing
COLLETTI ROBERT J 4
Accession 0001209191-06-034414
CIK 0001034088other
Filed
Jun 4, 8:00 PM ET
Accepted
Jun 5, 11:05 AM ET
Size
7.8 KB
Accession
0001209191-06-034414
Insider Transaction Report
Form 4
ECLIPSYS CORPECLP
Transactions
- Tax Payment
Common Stock
2006-06-01$19.35/sh−264$5,108→ 9,028 total - Sale
Common stock
2006-06-01$19.35/sh−383$7,411→ 8,645 total
Footnotes (2)
- [F1]The reporting person owns restricted stock issued by the issuer in connection with employment. Vesting of the shares results in taxable income, in respect of which the issuer pays tax deposits to the tax authorities on behalf of the reporting person. The reporting person reimburses the issuer for these tax deposits through a combination of (i) surrender to the issuer of vested shares having a value equal to the federal income tax paid at the minimum supplemental rate of 25% plus medicare plus any applicable state income tax, and (ii) cash equal to the portion of federal income tax paid in excess of the minimum supplemental rate. In order to raise the cash portion of tax reimbursement owed to the issuer, the reporting person sells shares pursuant to a 10b5-1 plan on or shortly following the vesting date. The surrender of shares to the issuer and sale of shares to generate the cash portion of the reimbursement to the issuer are reported on this form.
- [F2]Includes both vested shares and shares subject to contractual restrictions on transfer until vested.
Documents
Issuer
ECLIPSYS CORP
CIK 0001034088
Entity typeother
Related Parties
1- filerCIK 0001213694
Filing Metadata
- Form type
- 4
- Filed
- Jun 4, 8:00 PM ET
- Accepted
- Jun 5, 11:05 AM ET
- Size
- 7.8 KB