HealthMarkets, Inc. 4
4 · HealthMarkets, Inc. · Filed Sep 28, 2006
Insider Transaction Report
Form 4
BOXER MICHAEL
EVP and CFO
Transactions
- Award
Stock Option
2006-09-26+35,166→ 35,166 totalExercise: $0.00From: 2007-09-26Exp: 2016-09-26→ Class A-1 Common Stock (35,166 underlying) - Award
Stock Option
2006-09-26$38.37/sh+35,167$1,349,358→ 35,167 totalExercise: $38.37From: 2007-09-26Exp: 2016-09-26→ Class A-1 Common Stock (35,167 underlying)
Footnotes (3)
- [F1]The options vest in 20% increments on each of the first, second, third, fourth and fifth anniversaries of September 26, 2006.
- [F2]The initial exercise price of the option is $38.37. The exercise price of the option will accrete by 10% per year, starting on September 26, 2008. If the optionee exercises the option prior to September 26, 2008, the exercise price will be $38.37. If the optionee exercises the option on or after September 26, 2008 but prior to September 26, 2009, the exercise price will be $42.21. If the optionee exercises the option on or after September 26, 2009 but prior to September 26, 2010, the exercise price will be $46.43. If the optionee exercises the option on or after September 26, 2010 but prior to September 26, 2011, the exercise price will be $51.07. If the optionee exercises the option on or after September 26, 2011, the exercise price will be $56.18.
- [F3]The options vest in different increments on each of the first five anniversaries of September 26, 2006. Twenty-five percent of the options vest on September 26, 2007. Twenty-five percent of the options vest on September 26, 2008. Seventeen percent of the options vest on September 26, 2009. Seventeen percent of the options vest on September 26, 2010. The remaining sixteen percent of the options vest on September 26, 2011.