4//SEC Filing
VAN BERKEL JACOB 4
Accession 0001209191-10-016776
CIK 0000216039other
Filed
Mar 11, 7:00 PM ET
Accepted
Mar 12, 7:15 PM ET
Size
9.9 KB
Accession
0001209191-10-016776
Insider Transaction Report
Form 4
VAN BERKEL JACOB
EVP, HR and Operations
Transactions
- Award
Common Stock, par value $0.01
2010-03-10+1,000,000→ 1,217,600 total
Holdings
- 250
Convertible Preferred Stock, par value $0.01
→ Common Stock, par value $0.01
Footnotes (9)
- [F1]Represents restricted shares of Grubb & Ellis Company's (the "Company") common stock that were awarded to Mr. Van Berkel pursuant to the Company's 2006 Omnibus Equity Plan.
- [F2]500,000 of the restricted shares awarded to Mr. Van Berkel are subject to vesting over 3 years in equal annual increments of 1/3 each, commencing on the 1 year anniversary of the grant date (March 10, 2010). The other 500,000 restricted shares are subject to vesting based upon the market price of the Company's common stock during the 3 year period beginning March 10, 2010. Specifically, (i) in the event that for any 30 consecutive trading days during such 3 year period the volume weighted average closing price per share of the Company's common stock is at least $3.50, then 50% of such restricted shares shall vest, and (ii) in the event that for any 30 consecutive trading days during such 3 year period the volume weighted average closing price per share of the Company's common stock is at least $6.00, then the remaining 50% of such restricted shares shall vest.
- [F3]Vesting with respect to all 1,000,000 restricted shares awarded to Mr. Van Berkel is subject to Mr. Van Berkel's continued employment by the Company and subject to the terms of a restricted share agreement entered into by Mr. Van Berkel and the Company.
- [F4]On March 10, 2010, the date of the grant of restricted shares awarded to Mr. Van Berkel, the closing price for the Company's common stock was $1.87.
- [F5]Beneficially owned shares include 120,000 restricted shares of the Company's common stock awarded to Mr. Van Berkel pursuant to the Company's 2006 Omnibus Equity Plan which will vest in equal thirty-three and one-third (33 1/3%) installments on each first business day after the first, second and third anniversaries of the grant date (December 3, 2008) and are subject to acceleration under certain conditions. Beneficially owned shares also include 80,000 restricted shares of the Company's common stock awarded to Mr. Van Berkel pursuant to the Company's 2006 Omnibus Equity Plan which will vest in equal thirty-three and one-third percent (33 1/3%) installments on each first business day after the first, second and third anniversaries of the grant date (January 24, 2008).
- [F6]Beneficially owned shares also include 17,600 restricted shares of the Company's common stock recieved by Mr. Van Berkel in exchange for 20,000 shares of restricted common stock of NNN Realty Advisors, Inc. ("NNN") in connection with the merger of NNN into the Company. The 17,600 restricted shares will vest in equal thirty-three and one-third percent (33 1/3%) installments on each first business day after the first, second and third anniversaries of the grant date (December 4, 2007).
- [F7]The full title of the deriviative security is 12% Cumulative Participating Perpetual Convertible Preferred Stock, par value $0.01 per share (the "Preferred Stock").
- [F8]Each share of Preferred Stock is convertible into 60.606 shares of the Company's common stock, which represents a conversion price of approximately $1.65 per share.
- [F9]The Preferred Stock is convertible, in whole or in part, into common stock at any time at Mr. Van Berkel's option and has no expiration date.
Documents
Issuer
GRUBB & ELLIS CO
CIK 0000216039
Entity typeother
Related Parties
1- filerCIK 0001421694
Filing Metadata
- Form type
- 4
- Filed
- Mar 11, 7:00 PM ET
- Accepted
- Mar 12, 7:15 PM ET
- Size
- 9.9 KB