BASSO DONALD V 4
4 · MAGELLAN PETROLEUM CORP /DE/ · Filed Jul 6, 2009
Insider Transaction Report
Form 4
BASSO DONALD V
Director
Transactions
- Award
Common Stock
2009-07-01+15,000→ 135,400 total
Footnotes (2)
- [F1]On July 1, 2009, 15,000 shares of the Company's common stock were awarded to the reporting person under Section 9 of the Company's 1998 Stock Incentive Plan, pursuant to the terms of the Company's Board compensation policy for non-employee directors adopted on May 27, 2009, which permits the Company to make payment of up to 50% of the annual retainer fees payable to non-employee directors in the form of shares of the Company's common stock, subject to an annual cap per director of 15,000 shares.
- [F2]The shares were awarded to the reporting person in lieu of cash payment of a portion of the annual directors' retainer fee. The fair market value of a share of the Company's common stock on the grant date, July 1, 2009, was $1.11, calculated in accordance with the terms of the Company's 1998 Stock Incentive Plan.