Kerr David L 4
4 · COMSYS IT PARTNERS INC · Filed Aug 18, 2009
Insider Transaction Report
Form 4
Kerr David L
SVP-Corp Development
Transactions
- Other
Common Stock
2009-03-11−1,665→ 269,630 total
Footnotes (1)
- [F1]On October 1, 2008, COMSYS IT Partners Inc.'s (the "Company") Compensation Committee (the "Committee") concluded that the annual EBITDA bonus target for its 2008 executive compensation bonus plan (the "Original EBITDA Target") was unattainable, and replaced the annual target with a new EBITDA bonus target for the final six months of 2008 (the "New EBITDA Target") that was lower on an annualized basis than the Original EBITDA Target by approximately 22%. A portion of Mr. Kerr's previous restricted common stock grant on September 30, 2006, was subject to vesting based on meeting the Original EBITDA Target. As a result of the above adjustments, the restricted common stock shares subject to the performance vesting were reduced by approximately 25%. On March 11, 2009, the Company finalized its financial results for 2008 and determined that the New EBITDA Target was met. As a result, 50% of the performance-based shares were vested and an additional 25% were forfeited.