Boorstein Brian B 4
4 · HUGHES Telematics, Inc. · Filed Apr 2, 2009
Insider Transaction Report
Form 4
Boorstein Brian B
Director
Transactions
- Disposition to Issuer
Common Stock
2009-03-31−2,758→ 58,807 total(indirect: Held by Granite Creek Partners, L.L.C.) - Award
Common Stock
2009-03-31+310,333→ 418,333 total(indirect: Held by Granite Creek Flexcap I, L.P.)Exp: 2014-03-31→ Common Stock (310,333 underlying) - Award
Common Stock
2009-03-31+92,660→ 130,945 total(indirect: Held by Granite Creek Flexcap I, L.P.) - Disposition to Issuer
Common Stock
2009-03-31−20,522→ 38,285 total(indirect: Held by Granite Creek Partners, L.L.C.) - Award
Common Stock
2009-03-31+20,522→ 438,855 total(indirect: Held Granite Creek Partners, L.L.C.)Exp: 2014-03-31→ Common Stock (20,522 underlying)
Footnotes (6)
- [F1]Shares delivered to the Issuer and cancelled in connection with the merger between HUGHES Telematics, Inc. and Polaris Acquisition Corp. (the "Merger").
- [F2]Mr. Boorstein controls Granite Creek Partners, L.L.C.
- [F3]Shares deposited into escrow to be released to the Reporting Person if the trading price of the Issuer's common stock equals or exceeds $20.00 for any 20 trading days within a 30 trading-day period between the first and fifth anniversaries of the closing of the Merger.
- [F4]Merger Consideration.
- [F5]Mr. Boorstein controls Granite Creek Flexcap I, L.P.
- [F6]Shares issued into escrow as Merger Consideration to be released to the Reporting Person in three tranches, as follows: (i) the first tranche of 40% of such shares will be released if the trading price of the Issuer's common stock equals or exceeds $20.00 for any 20 trading days within a 30 trading-day period between the first and fifth anniversaries of the closing of the Merger; (ii) the second tranche of 30% of such shares will be released if the trading price of the Issuer's common stock equals or exceeds $24.50 for any 20 trading days within a 30 trading-day period between the second and fifth anniversaries of the closing of the Merger; and (iii) the third tranche of 30% of such shares will be released if the trading price of the Issuer's common stock equals or exceeds $30.50 for any 20 trading days within a 30 trading-day period between the third and fifth anniversaries of the closing of the Merger.