NOLAN JAMES W 4
4 · Sara Lee Corp · Filed Jan 30, 2007
Insider Transaction Report
Form 4
NOLAN JAMES W
Executive Vice President
Transactions
- Tax Payment
Common Stock
2007-01-27$17.10/sh−6,402$109,474→ 93,508 total
Holdings
- 420(indirect: By 401(k))
Common Stock
Footnotes (3)
- [F1]Represents shares of common stock withheld by Sara Lee to satisfy the reporting person's tax liability incurred upon the vesting of restricted stock units.
- [F2]Includes 66,940 restricted stock units ("RSUs") that may be settled only for shares of common stock. RSUs generally vest one to five years after the grant date and, upon vesting, are convertible into shares of common stock on a one-for-one basis.
- [F3]On September 5, 2006, Sara Lee Corporation distributed, as a pro rata stock dividend, all of the shares of its wholly-owned subsidiary, Hanesbrands Inc., to holders of record of Sara Lee common stock as of the close of business on August 18, 2006 (the "spin off"). Effective upon completion of the spin off, the Compensation and Employee Benefits Committee of Sara Lee?s Board of Directors adjusted all outstanding Sara Lee RSUs to preserve the pre-spin off intrinsic value of such RSUs. As a result, on September 6, 2006, 79,428 RSUs held by the reporting person immediately prior to the spin off were adjusted to equal 92,262 RSUs.