Hard Rock Hotel Holdings, LLC 4
4 · Hard Rock Hotel Holdings, LLC · Filed Sep 12, 2008
Insider Transaction Report
Form 4
Boswell Arnold D.
Chief Financial Officer
Transactions
- Award
Class C Units
2008-09-10+60,000→ 60,000 total
Footnotes (1)
- [F1]The award of Class C Units consists of the following three vesting components which are generally subject to the grantee's continued employment with the registrant: one-third of the Class C units is a time-based vesting award that vests over the period commencing on the date of grant and continuing through December 31, 2010; one third of the Class C units is a performance-based vesting award that vests based on the registrant's attainment of pre-established EBITDA targets for each of the registrant's fiscal years through December 31, 2010; and one third of the Class C units is a "milestone" vesting award that vests based on the registrant's completion by June 30, 2010 of the expansion project at the Hard Rock Hotel & Casino in Las Vegas, Nevada in accordance with the development budget approved by the registrant's Board of Directors. Under certain conditions, vesting is accelerated in the event of a sale of the registrant prior to December 31, 2010.