CERRONE STEPHEN 4
4 · Sara Lee Corp · Filed Sep 2, 2010
Insider Transaction Report
Form 4
CERRONE STEPHEN
Executive Vice President
Transactions
- Disposition to Issuer
Common stock
2010-08-31−38,260→ 142,109 total - Tax Payment
Common stock
2010-08-31$14.44/sh−8,375$120,935→ 133,734 total - Award
Common stock
2010-08-31+19,884→ 153,618 total
Holdings
- 1,183(indirect: By 401(k))
Common stock
Footnotes (4)
- [F1]Represents shares of common stock subject to performance-based restricted stock units (PSUs) that did not vest at the end of the performance period.
- [F2]Represents shares of common stock withheld by Sara Lee to satisfy the reporting person's tax liability incurred upon the vesting of restricted stock units (RSUs).
- [F3]Represents RSUs granted pursuant to an interim earn out feature of certain PSUs. The PSUs will be earned based on Sara Lee's cumulative relative total stockholder return over the fiscal 2009 - fiscal 2011 performance cycle, but one-third were converted into RSUs based on Sara Lee's relative total stockholder return over fiscal 2009 - fiscal 2010. The RSUs will be converted into shares of common stock on a one-for-one basis on August 31, 2011, subject to the reporting person's continued employment through that date.
- [F4]Includes 98,932 RSUs that may be settled only for shares of common stock. RSUs generally vest one to five years after the grant date and, upon vesting, are convertible into shares of common stock on a one-for-one basis. RSUs vest based on the reporting person's continued employment through the vesting period.