WESTWOOD ONE INC /DE/ 4
4 · WESTWOOD ONE INC /DE/ · Filed May 19, 2008
Insider Transaction Report
Form 4
DENNIS DAVID
Director
Transactions
- Award
Common Stock
2008-05-16+121→ 73,967 total - Exercise/Conversion
Common Stock
2008-05-16+3,754→ 73,846 total - Exercise/Conversion
Restricted Stock Units
2008-05-16+3,754→ 3,753 total→ Common stock (3,754 underlying)
Footnotes (3)
- [F1]Includes July 12, 2007 grant of restricted stock units of 17,007 shares of Issuer's common stock that vest in one-third increments on August 18, 2008, July 12, 2009 and July 12, 2010.
- [F2]Acquired in connection with the settlement of Restricted Stock Units upon which dividend equivalents accrued prior to vesting.
- [F3]Grant of restricted stock units on May 16, 2006 that vested and/or vest in equal one-third increments on May 16, 2007, 2008 and 2009. Accordingly on May 16, 2008, the 3,754 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).