GOLDEN TELECOM INC 4
4 · GOLDEN TELECOM INC · Filed Sep 21, 2007
Insider Transaction Report
Form 4
VINOGRADOV ALEXANDER
President and CEO
Transactions
- Exercise/Conversion
Common Stock
2007-09-19$12.00/sh+5,000$60,000→ 5,000 total - Exercise/Conversion
Options to purchase Common Stock
2007-09-19−5,000→ 58,354 totalExercise: $12.00From: 2002-11-21Exp: 2011-11-21→ Common Stock (5,000 underlying) - Sale
Common Stock
2007-09-19$75.00/sh−5,000$375,000→ 0 total
Footnotes (2)
- [F1]The transaction listed on this Form 4 was effective pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.
- [F2]Owing to ambiguities and inconsistencies in Russian law, the Compensation Committee of the Board of Directors of the Company decided not to issue stock options to Mr. Vinogradov. Instead, as part of its key employee incentive and retention policy, the Company established the Golden Telecom Incentive Bonus Program. Pursuant to this program, the Company issues stock options to the GTI Equity Participation Plan Trust in numbers corresponding to the level of financial incentive the Company wishes to award Mr. Vinogradov. When Mr. Vinogradov desires and is eligible to receive the economic benefit of the options, he informs the Company and the Company, in turn, advises the trustee to exercise an appropriate number of options and, if requested, to sell the option shares. Upon request of the Company and Mr. Vinogradov, the funds received by the trust from the sales are disbursed to Mr. Vinogradov in the form of incentive bonuses.