WESTWOOD ONE INC /DE/ 4
4 · WESTWOOD ONE INC /DE/ · Filed Dec 4, 2007
Insider Transaction Report
Form 4
PATTIZ NORM
DirectorChairman of the Board
Transactions
- Award
Common Stock
2007-12-03+8,333→ 906,460 total - Award
Stock Option
2007-12-03+25,000→ 25,000 totalExercise: $1.87From: 2008-12-03Exp: 2017-12-03→ Common Stock (25,000 underlying) - Exercise/Conversion
Common Stock
2007-12-01+2,794→ 898,127 total
Footnotes (3)
- [F1]Acquired in connection with the settlement of restricted stock units ("RSUs") awarded on December 1, 2006 upon which dividend equivalents accrued prior to vesting.
- [F2]Grant of RSUs on December 3, 2007 that vest in equal one-third increments on December 3, 2008, December 3, 2009 and December 3, 2010. The RSUs convert on a "1 for 1" basis. One share of stock is distributed with respect to each vested RSU as soon as practicable following the applicable vesting date unless the Reporting Person elects to defer payment of the Award. A Reporting Person may choose to elect to defer payment of the Award until either: (i) the date chosen by the Reporting Person (which date shall not be earlier than December 3, 2010); provided, that, if the Reporting Person's Termination occurs prior to the date specified, the shares relating to the vested RSUs will be distributed on the date of such Termination; or (ii) the date of the Reporting Person's "Termination".
- [F3]Option to buy 25,000 shares of common stock of Westwood One, Inc. at $1.87/share that will become exercisable in one-third increments on December 3, 2008, 2009 and 2010.