PALOMBA MARK E 4

4 · CRITICAL PATH INC · Filed Jul 14, 2006

Form 4

Period: 2006-06-28

EVP, WW Services and Support

Transactions

Disposition to Issuer
Employee Stock Option (right-to-buy
2006-06-28−20,000→ 0 total
Exercise: $0.65Exp: 2014-11-04→ Common Stock (20,000 underlying)
Award
Employee Stock Option (right-to-buy
2006-06-29+370,000→ 370,000 total
Exercise: $0.20Exp: 2013-06-28→ Common Stock (370,000 underlying)
Disposition to Issuer
Employee Stock Option (right-to-buy)
2006-06-28−350,000→ 0 total
Exercise: $1.87Exp: 2014-05-23→ Common Stock (350,000 underlying)

Footnotes (3)

[F1]On December 27, 2005, the issuer accelerated the vesting of all outstanding options; therefore, these options which were outstanding prior to that date, were fully vested.
[F2]On June 28, 2006 the reporting person agreed to cancellation of this option grant in exchange for a new option with a lower exercise price.
[F3]This option was granted in exchange for the options that were cancelled as described in the above footnotes. This option has a 4 year monthly vest schedule, subject to 50% immediate acceleration, which results in full vesting in 2 years from date of grant. These options are also subject to acceleration upon the occurrence of certain conditions in accordance with an employment agreement.

Documents

1 file