4//SEC Filing
Bean Joseph W 4
Accession 0001209191-11-000873
CIK 0001376812other
Filed
Jan 3, 7:00 PM ET
Accepted
Jan 4, 4:26 PM ET
Size
13.1 KB
Accession
0001209191-11-000873
Insider Transaction Report
Form 4
Bean Joseph W
SVP-General Counsel, Secretary
Transactions
- Award
Common Stock
2011-01-03+5,920→ 33,921 total - Award
Non-Qualified Stock Option
2011-01-03+11,840→ 11,840 totalExercise: $20.30→ Common Stock (11,840 underlying) - Award
Restricted Stock Unit
2011-01-03+5,920→ 5,920 totalExercise: $0.00→ Common Stock (5,920 underlying)
Footnotes (6)
- [F1]The reporting person has received an award of restricted stock under the Patriot Coal Corporation (the "Company") 2007 Long-Term Equity Incentive Plan (the "Plan"). The restricted stock will ratably vest in annual installments over a period of three years following the grant date; i.e., 33.33% of the award will be vested on the first anniversary of the grant date, 66.66% of the award will be vested on the second anniversary of the grant date and 100% of the award will be vested on the third anniversary of the grant date. The restricted stock will become fully vested if the reporting person terminates employment with the Company because of death or disability, or if a change in control occurs. In the event that the reporting person's employment is terminated without cause or by the reporting person for good reason, the restricted stock will vest with respect to the percentage of shares of common stock of the Company that would have otherwise vested on the next vesting date.
- [F2]Includes 257 shares acquired under the Company's Employee Stock Purchase Plan.
- [F3]The reporting person has received an award of non-qualified stock options under the Plan. The stock options will ratably vest in annual installments over a period of three years following the grant date i.e. 33.33% of the award will be vested on the first anniversary of the grant date, 66.66% of the award will be vested on the second anniversary, and 100% of the award will be vested on the third anniversary of the grant date. The non-qualified stock options will become fully vested if the reporting person terminates employment with the Company because of death or disability, or if a change in control occurs. In the event that the reporting person's employment is terminated without cause or by the reporting person for good reason the non-qualified stock options will vest with respect to the percentage of shares of common stock of the Company that would have otherwise vested on the next vesting date. No stock options can be exercised more than ten years after the grant date.
- [F4]Does not include non-qualified stock options with different terms.
- [F5]The reporting person has received an award of performance-based restricted stock units (the "RSUs") under the Plan. Subject to satisfaction of certain performance-based parameters tied to total shareholder return ("TSR") relative to a peer group (or satisfaction of a specified TSR (the "Minimum TSR")), as described in the award agreement, the RSUs will vest on December 31, 2013, or earlier if the reporting person terminates employment with the Company because of death or disability, or if a change in control occurs. The number of shares reported represent the minimum number of shares that may be awarded if the actual TSR exceeds the Minimum TSR. All unvested RSUs will be forfeited if the reporting person terminates employment with the Company for any reason other than death or disability, provided however, in the event that reporting person's employment is terminated without cause or by the reporting person for good reason, a pro rata portion of the RSUs will vest.
- [F6]Does not include restricted stock units with different terms.
Documents
Issuer
Patriot Coal CORP
CIK 0001376812
Entity typeother
Related Parties
1- filerCIK 0001414613
Filing Metadata
- Form type
- 4
- Filed
- Jan 3, 7:00 PM ET
- Accepted
- Jan 4, 4:26 PM ET
- Size
- 13.1 KB