4//SEC Filing
Nash Edward Alton 4
Accession 0001209191-09-035549
CIK 0000750561other
Filed
Jul 5, 8:00 PM ET
Accepted
Jul 6, 2:37 PM ET
Size
8.3 KB
Accession
0001209191-09-035549
Insider Transaction Report
Form 4
Nash Edward Alton
Director
Transactions
- Award
Common Stock, $.01 par value
2009-07-01$2.03/sh+12,321$24,999→ 12,321 total
Holdings
- 1,100
Common Stock, $.01 par value
- 1,912
Common Stock, $.01 par value
- 10,000
Common Stock, $.01 par value
- 1,153
Common Stock, $.01 par value
Footnotes (1)
- [F1]Such shares were acquired by the reporting person pursuant to the Parallel Petroleum Corporation Non-Employee Director Stock Grant Plan (the "Plan") adopted by the stockholders of Parallel Petroleum Corporation ("Parallel") on June 22, 2004. Under the Plan, each non-employee director of Parallel is entitled to receive on the first day of July of each year an annual retainer fee consisting of shares of Parallel's common stock. The number of shares of Parallel common stock received is determined by dividing $25,000 by the average of the daily closing prices of Parallel's stock for ten consecutive trading days commencing fifteen trading days before the first day of July of each year ($2.029) The shares of stock vest immediately but may not be assigned or transferred until the reporting person ceases to be a director of Parallel, except that transfers may be permitted for estate and/or tax planning purposes or gratuitous or donative purposes.
Documents
Issuer
PARALLEL PETROLEUM CORP
CIK 0000750561
Entity typeother
Related Parties
1- filerCIK 0001403586
Filing Metadata
- Form type
- 4
- Filed
- Jul 5, 8:00 PM ET
- Accepted
- Jul 6, 2:37 PM ET
- Size
- 8.3 KB