Downer Jonathan S 4
4 · MOBILITY ELECTRONICS INC · Filed Sep 14, 2007
Insider Transaction Report
Form 4
Downer Jonathan S
Senior Vice President
Transactions
- Award
Common Stock
2007-09-13+25,000→ 160,000 total
Footnotes (1)
- [F1]Mr. Downer was granted 25,000 restricted stock units pursuant to the Company's 2004 Omnibus Long Term Incentive Plan as a result of the Company's Compensation and Human Resource Committee's determination that the Company had achieved one of the objectives set forth in Mr. Downer's 2007 compensation arrangement, which was previously disclosed in a Current Report on Form 8-K filed April 12, 2007. Subject to continued employment, twenty-five percent (25%) of the restricted stock units will automatically vest each year over the next four (4) years immediately on the anniversary of the grant date (i.e., 25% of the units shall automatically vest on each of September 13, 2008, September 13, 2009, September 13, 2010, and September 13, 2011). The units will vest earlier, in full, upon a change of control, or on a pro rata basis upon the participant's death, disability, termination without cause or retirement.