4//SEC Filing
Patterson Lewis Brooks 4
Accession 0001209191-07-000382
CIK 0000036506other
Filed
Jan 2, 7:00 PM ET
Accepted
Jan 3, 1:27 PM ET
Size
6.6 KB
Accession
0001209191-07-000382
Insider Transaction Report
Form 4
Patterson Lewis Brooks
Director
Transactions
- Award
Stock Option (right to buy)
2006-12-15+2,000→ 2,000 totalExercise: $10.65From: 2006-12-15Exp: 2016-12-15→ Common Stock (2,000 underlying)
Footnotes (1)
- [F1]On December 15, 2006, the reporting person was granted the option to purchase 10,000 shares of Common Stock. The option vests in 4 installments with the initial installment of 20% vesting immediately on the date of grant, resulting in the vesting of the option as to 2,000 shares. Of the remaining option, 27% of the original becomes exercisable when the closing price of the Common Stock equals 1.15 times the initial exercise price for a period of 10 consecutive trading days. Another 27% of the original option becomes exercisable when the closing price of the Common Stock equals 1.30 times the initial exercise price for a period of 10 consecutive trading days after 12/15/07. The remaining 26% of the original option becomes exercisable when the closing price of the Common Stock equals 1.45 times the initial exercise price for a period of 10 consecutive trading days after 12/15/08.
Documents
Issuer
MACKINAC FINANCIAL CORP /MI/
CIK 0000036506
Entity typeother
Related Parties
1- filerCIK 0001371818
Filing Metadata
- Form type
- 4
- Filed
- Jan 2, 7:00 PM ET
- Accepted
- Jan 3, 1:27 PM ET
- Size
- 6.6 KB