Rzonzef Michel 4
4 · GOODYEAR TIRE & RUBBER CO /OH/ · Filed Feb 25, 2010
Insider Transaction Report
Form 4
Rzonzef Michel
President, EEME&A Countries
Transactions
- Exercise/Conversion
2005 Plan Performance Share Units
2010-02-25−3,600→ 0 total→ Common Stock (3,600 underlying) - Award
2008 Plan Restricted Stock Units
2010-02-23+10,000→ 10,000 total→ Common Stock (10,000 underlying) - Exercise/Conversion
Common Stock
2010-02-25+3,600→ 5,400 total - Disposition to Issuer
Common Stock
2010-02-25$14.28/sh−1,800$25,704→ 3,600 total - Award
2008 Plan Performance Share Units
2010-02-23+3,815→ 3,815 total→ Common Stock (3,815 underlying) - Award
2008 Plan Option
2010-02-23+14,690→ 14,690 totalExercise: $12.74Exp: 2020-02-23→ Common Stock (14,690 underlying)
Footnotes (7)
- [F1]The average of the high and low sales price per share on December 31, 2009, the last day of the related performance period.
- [F2]The number of Units paid, which could have been 0% to 200% of the base number of Units granted, depended 50% on cumulative net income and 50% on cumulative total cash flow, net of debt during the 3-year performance period ending December 31, 2009. This Form 4 reports the conversion of 3,600 Units, 100% of the base number of units granted, payable 50% in common stock, 50% in cash.
- [F3]Performance Unit Grant of a maximum of 3,815 units (150% of the base number of Units granted) under the 2008 Performance Plan, contingently payable (to the extent earned) 100% in shares of Common Stock, in February, 2013. The grantee may elect to defer (in Common Stock equivalents) all or a portion of the grant earned. Amounts deferred will be paid in shares of Common Stock. The number of Units paid, which can be zero to 3,815 Units, depends 50% on the attainment of a net income target and 50% on the attainment of a cash flow target over a 1-year period ending December 31, 2010.
- [F4]Non-Qualified Stock Option in respect of shares of common stock granted under the 2008 Performance Plan.
- [F5]The option vests and becomes exercisable in 25% increments over four years commencing one year after the date of grant.
- [F6]Restricted Stock Units, each equivalent to a share of common stock, granted under the 2008 Performance Plan.
- [F7]The Restricted Stock Units vest and convert into shares of common stock in 33% increments each year commencing three years after the date of grant.