Trochiano William C 4
4 · WARWICK VALLEY TELEPHONE CO · Filed Jan 3, 2008
Insider Transaction Report
Form 4
Trochiano William C
Other
Transactions
- Award
Stock Appreciation Rights
2008-01-01+15,000→ 15,000 totalExercise: $11.06From: 2009-01-01→ Common Shares (15,000 underlying)
Footnotes (3)
- [F1]The Reporting Person is entitled to receive cash in an amount equal to the amount, if any, by which the increase in the average price of Issuer's Common Shares between two measuring periods exceeds 120%. The first measuring period is the month of December in a given year and the second measuring period is the month of December in the following year. The first period for which appreciation will be measured has a first measuring period of December 2007 and a second measuring period of December 2008. $11.06 was the average price of the Issuer's Common Shares in December 2007.
- [F2]The date shown is the approximate date on which cash representing any appreciation beyond 120% between December 2007 and December 2008 will be paid in 2009. In general, any such appreciation will be paid promptly after the Annual Meeting of Shareholders next following the second measuring period (i.e., the preceding December).
- [F3]The expiration date is not known as the stock appreciation rights expire when the employment of the Reporting Person ends.