WESTWOOD ONE INC /DE/ 4
4 · WESTWOOD ONE INC /DE/ · Filed Jul 3, 2007
Insider Transaction Report
Form 4
ZAREF ANDREW
Chief Financial Officer
Transactions
- Exercise/Conversion
Restricted Stock
2007-06-30+6,250→ 18,750 total→ Common stock (6,250 underlying) - Exercise/Conversion
Common Stock
2007-06-30+6,250→ 13,102 total - Award
Common Stock
2007-06-30+104→ 13,206 total
Footnotes (4)
- [F1]On July 2, 2007 (the first business day after June 30, 2007), the closing price of Issuer's common stock on the NYSE was $7.17. No consideration was paid by the Reporting Person in connection with this common stock.
- [F2]Acquired in connection with the settlement of Restricted Stock Units upon which dividend equivalents accrued prior to vesting.
- [F3]Of such amount, 361 shares are held indirectly by Reporting Person in his 401(k) account.
- [F4]Grant of restricted stock on June 30, 2006 that vest in equal one-fourth increments on June 30, 2007, 2008, 2009 and 2010. Accordingly on June 30, 2007, the 6,250 shares that vested on such date were settled by delivery of a corresponding number of shares of the Issuer's common stock. The restricted stock convert on a "1 for 1" basis. One share of stock is distributed with respect to each vested share of restricted stock as soon as practicable following the earlier of the vesting date or the Reporting Person's "Termination" (as such term is defined in the Westwood One, Inc. 2005 Equity Compensation Plan).