4//SEC Filing
PROSPECT STREET INCOME SHARES INC 4
Accession 0001209191-06-067176
CIK 0000021178other
Filed
Dec 26, 7:00 PM ET
Accepted
Dec 27, 8:26 PM ET
Size
16.2 KB
Accession
0001209191-06-067176
Insider Transaction Report
Form 4
DONDERO JAMES D
Other
Transactions
- Disposition to Issuer
Common Stock
2006-12-27−11,532.195→ 597,828.047 total(indirect: See Footnote) - Disposition to Issuer
Common Stock
2006-12-22$3.05/sh−114,285.76$348,572→ 647,310.917 total(indirect: See Footnote) - Disposition to Issuer
Common Stock
2006-12-27$3.05/sh−42,857.16$130,714→ 609,360.242 total(indirect: See Footnote) - Tax Payment
Common Stock
2006-12-27$6.10/sh+13,483.794$82,251→ 611,311.842 total(indirect: See Footnote) - Tax Payment
Common Stock
2006-12-22$6.10/sh+35,679.542$217,645→ 652,217.402 total(indirect: See Footnote) - Disposition to Issuer
Common Stock
2006-12-22−30,773.057→ 616,537.86 total(indirect: See Footnote)
Footnotes (5)
- [F1]Shares disposed of by the HCM Services Option Plan (the "Option Plan").
- [F2]This price reflects an upward adjustment to the exercise price of options to purchase shares of Prospect Street Income Shares, Inc. ("CNN") granted to certain employees of Highland Capital Management, LP ("HCMLP") on February 28, 2002. The per share exercise price of each option granted pursuant to those grants shall be the greater of (a) $1.75 and (b) fifty percent (50%) of the fair market value of the underlying shares of CNN on the date of exercise.
- [F3]Includes (i) 291,400 shares held by the Highland CDO Opportunity Fund, Ltd. ("CDO"), (ii) 200,816 shares held by The Canis Major Trust ("Canis Major"), (iii) 108,779.020 shares held by the Option Plan and (iv) 10,316.822 shares held by the Highland 401(k) Plan (the "401(k) Plan") for the account of Mr. Dondero.
- [F4]HCMLP is the investment advisor for Prospect Street Income Shares, Inc. HCMLP maintains the 401(k) Plan and the Option Plan for the benefit of its employees. Mr. Dondero is the President of HCMLP and the trustee of Canis Major and the 401(k) Plan. CDO is controlled by HCMLP. The 401(k) Plan expressly disclaims beneficial ownership of the securities reported herein. Each of the CDO, Canis Major, HCMLP, the Option Plan and Mr. Dondero expressly disclaims beneficial ownership of the securities reported herein, except to the extent of their pecuniary interest therein.
- [F5]These shares were withheld by the Option Plan in connection with tax liabilities incurred as a result of exercises of options to purchase shares of CNN.
Documents
Issuer
PROSPECT STREET INCOME SHARES INC
CIK 0000021178
Entity typeother
IncorporatedMD
Related Parties
1- filerCIK 0000021178
Filing Metadata
- Form type
- 4
- Filed
- Dec 26, 7:00 PM ET
- Accepted
- Dec 27, 8:26 PM ET
- Size
- 16.2 KB