PATTIZ NORM 4
4 · WESTWOOD ONE INC /DE/ · Filed Jul 13, 2009
Insider Transaction Report
Form 4
PATTIZ NORM
DirectorChairman of the Board
Transactions
- Exercise/Conversion
Common Stock
2009-07-09+2,795→ 1,195,417 total - Exercise/Conversion
Restricted Stock Unit
2009-07-09+2,779→ 0 total→ Common Stock (2,779 underlying)
Holdings
- 300,000(indirect: By Trust)
Common Stock
Footnotes (3)
- [F1]Acquired in connection with the settlement of RSUs upon which 16 dividend equivalents accrued prior to vesting.
- [F2]Includes 291,710 shares of Class B stock that converted on a 1:1 basis into common stock in connection with the change in control described in this filing.
- [F3]Grant of RSUs on December 1, 2006 that were scheduled to vest in equal one-third increments on December 1, 2007, December 1, 2008 and December 1, 2009. As a result of the conversion by Gores Radio Holdings, LLC of 3,500 shares of Series A-1 Convertible Preferred Stock into 103,512,913 shares of common stock on July 9, 2009, a "change in control" was deemed to have occurred under the terms of the Company's 2005 Equity Compensation Plan. Accordingly, on July 9, 2009, 2,779 shares that were scheduled to vest on December 1, 2009 were settled by delivery of a corresponding number of shares of the Issuer's common stock.