4//SEC Filing
BASSO DONALD V 4
Accession 0001209191-11-038220
CIK 0000061398other
Filed
Jul 5, 8:00 PM ET
Accepted
Jul 6, 2:28 PM ET
Size
6.4 KB
Accession
0001209191-11-038220
Insider Transaction Report
Form 4
BASSO DONALD V
Director
Transactions
- Award
COMMON STOCK
2011-07-01+15,000→ 77,900 total
Footnotes (5)
- [F1]Prior to July 1, 2011, the Company's non-employee director compensation policy ("Policy") provided for an annual stock award under Section 9 of the Company's 1998 Stock Incentive Plan ("Plan") with a value equal to $35,000 to be made to each non-employee director on either July 1, 2011 or the date of the annual shareholder meeting held during each Company fiscal year, subject to a cap of 15,000 shares (the difference in value between the shares and $35,000 to be in cash) ("Stock Award").
- [F2]On July 1, 2011, the Company's Board of Directors ("Board"), upon recommendation of the Compensation, Nominating and Governance Committee ("Committee"), amended the Policy to provide for either a Stock Award or a $35,000 cash award to exercise previously issued Company stock options under the Plan ("Cash Award"). To the extent that a Cash Award is elected by a director, the director must exercise options which are at least equal to the value of shares that would have been received had the director elected to receive a Stock Award (rounded up to the nearest whole option). Any difference between this amount and $35,000 is paid in cash.
- [F3]On July 1, 2011, the Board, upon recommendation of the Committee, approved the granting of either a Stock Award or a Cash Award to each of the eligible non-employee directors. Mr. Basso elected to receive a Stock Award.
- [F4]The fair market value of a share of the Company's common stock on July 1, 2011, was $1.68, calculated in accordance with the Plan.
- [F5]Amount reported does not include beneficial ownership of the shares subject to stock options held by the reporting person which have been previously reported in Table II.
Documents
Issuer
MAGELLAN PETROLEUM CORP /DE/
CIK 0000061398
Entity typeother
Related Parties
1- filerCIK 0001253004
Filing Metadata
- Form type
- 4
- Filed
- Jul 5, 8:00 PM ET
- Accepted
- Jul 6, 2:28 PM ET
- Size
- 6.4 KB