Harbach F Edwin 4
4 · BEARINGPOINT INC · Filed Dec 31, 2009
Insider Transaction Report
Form 4
BEARINGPOINT INCBGPTQ
Harbach F Edwin
Director
Transactions
- Other
Restricted Stock Units
2009-12-30−13,325→ 0 totalExercise: $0.00Exp: 2009-12-30→ Common Stock (13,325 underlying) - Other
Employee Stock Options (Right to Buy)
2009-12-30−24,652→ 0 totalExercise: $2.76Exp: 2009-12-30→ Common Stock (24,652 underlying) - Other
Common Stock
2009-12-30−3,332→ 0 total - Other
Restricted Stock Units
2009-12-30−3,986→ 0 totalExercise: $0.00Exp: 2009-12-30→ Common Stock (3,986 underlying)
Footnotes (8)
- [F1]BearingPoint, Inc.'s Modified Second Amended Joint Plan Under Chapter 11 of the Bankruptcy Code, dated December 17, 2009 (the "Plan"), as confirmed by the Bankrutpcy Court for the Southern District of New York on December 22, 2009, became effective on December 30, 2009 (the "Effective Date"). The Plan provides that all equity interests of BearingPoint, Inc. (including all outstanding shares of Common Stock, options, warrants or contractual or other rights to acquire any equity interests) are cancelled and extinguished effective as of the Effective Date and that the holders of such equity interests are not entitled to, and shall not receive or retain, any property or interest in property in respect of such equity interests. As such, on December 30, 2009, the equity interests reflected on this Form 4 were cancelled and extinguished for no consideration.
- [F2]166,560 shares of common stock prior to the 50:1 reverse stock split of BearingPoint's common stock effective on December 10, 2008.
- [F3]666,244 shares of common stock prior to the 50:1 reverse stock split of BearingPoint's common stock effective on December 10, 2008.
- [F4]As previously reported, on January 8, 2007, F. Edwin Harbach was granted an award of 888,325 restricted stock units ("RSUs"), which grant was approved by the Compensation Committee of the Board of Directors of BearingPoint, Inc. The award vests as follows: 222,081 RSUs vested on each of January 8, 2008 and 2009 and an additional 222,081 will vest on January 8 in 2010 and 222,082 RSUs were scheduled to vest on January 8, 2011. As previously reported, on March 4, 2008, 222,081 shares of the Company's common stock were issued to Mr. Harbach in settlement of his vested RSUs, of which 55,521 shares of common stock were withheld by the Company (as approved by the Compensation Committee) to satisfy Mr. Harbach's tax withholding obligations.
- [F5]1,232,600 shares of common stock prior to the 50:1 reverse stock split of BearingPoint's common stock effective on December 10, 2008.
- [F6]The Compensation Committee of the Board of Directors of BearingPoint, Inc. approved a stock option grant to Mr. Harbach as of January 2, 2008, to purchase up to 1,232,600 shares of BearingPoint common stock. The option vests in four equal installments on January 2 in each of 2009, 2010, 2011 and 2012.
- [F7]199,275 shares of common stock prior to the 50:1 reverse stock split of BearingPoint's common stock effective on December 10, 2008.
- [F8]The Compensation Committee of the Board of Directors of the Company approved a grant of 199,275 RSUs to Mr. Harbach as of January 2, 2008, which vest on each anniversary of the grant date as follows: 49,818 RSUs vest on January 2, 2009, and 49,819 RSUs vest on January 2 in each of 2010, 2011 and 2012.