WESTWOOD ONE INC /DE/ 4
4 · WESTWOOD ONE INC /DE/ · Filed Jan 4, 2008
Insider Transaction Report
Form 4
KOSANN PETER
DirectorPresident and CEO
Transactions
- Tax Payment
Common stock
2008-01-03$1.94/sh−2,216$4,299→ 61,239 total - Award
Common stock
2008-01-03+432→ 63,455 total - Exercise/Conversion
Restricted Stock Units
2008-01-03+10,417→ 20,834 total→ Common stock (10,417 underlying) - Exercise/Conversion
Common stock
2008-01-03+10,417→ 63,023 total
Holdings
- 603(indirect: By 401(k))
Common stock
Footnotes (3)
- [F1]Acquired in connection with the settlement of Restricted Stock Units upon which dividend equivalents accrued prior to vesting.
- [F2]On January 3, 2008, the closing price of Issuer's common stock on the NYSE was $1.94. Such shares were withheld to satisfy the taxes payable by the Reporting Person in connection with the vesting of the shares reported on this form.
- [F3]Grant of restricted stock units on January 3, 2006 (reported on Form 4 filed January 4, 2006) that vest in equal one-fourth increments on January 3, 2007, 2008, 2009 and 2010. Accordingly on January 3, 2008, the 10,417 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 units convert on a "1 for 1" basis. One share of stock is distributed with respect to each vested restricted stock unit 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).