Woodward Sam A 4
4 · Horizon Lines, Inc. · Filed Jul 6, 2012
Insider Transaction Report
Form 4
Woodward Sam A
DirectorCEO and President
Transactions
- Award
Restricted Stock Unit
2012-07-05+3,000,000→ 3,000,000 total→ Common Stock, par value (3,000,000 underlying)
Footnotes (2)
- [F1]Each restricted stock unit entitles the executive to receive one share of HRZ common stock and cash equal to the amount of any dividend equivalents credited to such restricted stock.
- [F2]Up to 250,000 restricted stock units will vest on December 31, 2012, 625,000 will vest on December 31, 2013 and 625,000 will vest on December 31, 2014 if certain performance conditions are met by the issuer on those dates; and 250,000 restricted stock units will vest on December 31, 2012, 500,000 on December 31, 2013, 500,000 on December 31, 2014 and 250,000 on June 30, 2014, based solely on continued employment by the executive on those dates.