4//SEC Filing
Keenan John V 4
Accession 0001209191-09-017293
CIK 0001302707other
Filed
Mar 17, 8:00 PM ET
Accepted
Mar 18, 7:09 PM ET
Size
11.0 KB
Accession
0001209191-09-017293
Insider Transaction Report
Form 4
Keenan John V
President, Horizon Lines, LLC
Transactions
- Award
Common Stock, par value $0.01 per share
2009-03-18+25,000→ 372,119 total - Other
Common Stock, par value $0.01 per share
2009-03-18−138,602→ 347,119 total - Other
Prepaid Variable Share Forward Contract
2009-03-18−138,602→ 0 totalExp: 2009-03-18→ Common Stock (138,602 underlying)
Footnotes (3)
- [F1]On March 18, 2009 (the "Settlement Date"), the Reporting Person settled his obligation to deliver 138,602 shares of the issuer's common stock, par value $0.01 ("Common Stock") pursuant to a prepaid variable forward purchase contract (the "PVF Contract") entered into on March 14, 2007 (the "Trade Date") with an unrelated third party (the "Buyer"). The PVF Contract obligated the Reporting Person to deliver up to 138,602 shares of Common Stock upon the maturity of the PVF Contract. In exchange for pledging or agreeing to deliver 138,602 shares, the Reporting Person received a cash payment of $3,428,327.46 within three business days of the Trade Date. The Reporting Person pledged the Common Stock to secure his obligations under the PVF Contract.
- [F2](continuation of footnote 1) During the term of the PVF Contract, and prior to delivering the pledged Common Stock, the Reporting Person retained voting and dividend rights in the Common Stock. The PVF Contract provided that if the market-price of the issuer's Common Stock was less than or equal to a floor price of $30.1831 per share on the Settlement Date, then the Reporting Person was to deliver 138,602 shares of Common Stock to the Buyer. On the Settlement Date, the market-price of the issuer's Common Stock pursuant to the PVF Contract was $3.38. More information with respect to the PVF Contract is set forth on a Form 4 filed by the Reporting Person with the Securities and Exchange Commission on March 16, 2007 and is incorporated herein by reference.
- [F3]Award of restricted shares of common stock pursuant to the issuer's Amended and Restated Equity Incentive Plan. 100% of these shares will vest and become freely transferable on March 18, 2012.
Documents
Issuer
Horizon Lines, Inc.
CIK 0001302707
Entity typeother
Related Parties
1- filerCIK 0001339238
Filing Metadata
- Form type
- 4
- Filed
- Mar 17, 8:00 PM ET
- Accepted
- Mar 18, 7:09 PM ET
- Size
- 11.0 KB