Poe David A 4
4 · TIER TECHNOLOGIES INC · Filed May 11, 2010
Insider Transaction Report
Form 4
Poe David A
Director
Transactions
- Award
Restricted Stock Units
2010-05-11+9,000→ 9,000 totalFrom: 2011-05-11Exp: 2011-05-11→ Common Stock (9,000 underlying)
Footnotes (2)
- [F1]Each restricted stock unit represents the right to receive a payment of cash equivalent to the fair market value of a share of Tier common stock as of the first anniversary of the date of grant, unless the reporting person ceases to be a member of Tier's board of directors or an employee of Tier before that date, in which case the reporting person will be entitled to receive a cash payment this is prorated based upon the number of days the reporting person served as a board member or employee of Tier during the one year period following the date of grant.
- [F2]Payment will be made to the reporting person within thirty (30) days of the earlier of (i) the date the reporting person ceases to be either a member of Tier's board of directors or an employee of Tier and (ii) the first anniversary of the date of grant.