Kendrick Keith S 4

4 · TIER TECHNOLOGIES INC · Filed Feb 4, 2009

Form 4

Period: 2009-02-03

Sr. Vice President

Transactions

Award
Performance Shares
2009-02-03+25,000→ 50,000 total
Exercise: $0.00From: 2011-12-04Exp: 2011-12-04→ Common Stock (25,000 underlying)
Award
Performance Shares
2009-02-03+25,000→ 25,000 total
Exercise: $0.00From: 2011-12-04Exp: 2011-12-04→ Common Stock (25,000 underlying)
Award
Performance Shares
2009-02-03+25,000→ 100,000 total
Exercise: $0.00From: 2011-12-04Exp: 2011-12-04→ Common Stock (25,000 underlying)
Award
Performance Shares
2009-02-03+25,000→ 75,000 total
Exercise: $0.00From: 2011-12-04Exp: 2011-12-04→ Common Stock (25,000 underlying)

Footnotes (4)

[F1]The Performance Stock Unit (PSU) is earned upon Tier's common stock achieving a market price of $8 per share and mainaining that price for 60 consecutive days. The PSUs have a three year cliff vesting and are payable in cash, common stock, or restricted stock.
[F2]The Performance Stock Unit (PSU) is earned upon Tier's common stock achieving a market price of $9.50 per share and mainaining that price for 60 consecutive days. The PSUs have a three year cliff vesting and are payable in cash, common, or restricted stock.
[F3]The Performance Stock Unit (PSU) is earned upon Tier's common stock achieving a market price of $11 per share and maintaining that price for 60 consecutive days. The PSUs have a three year cliff vesting and are payable in cash, common or restricted stock.
[F4]The Performance Stock Unit (PSU) is earned upon Tier's common stock achieving a market price of $13 and maintaining that price for 60 consecutive days. The PSUs have a three year cliff vesting and are payable in cash, common, or restricted stock.

Documents

2 files