Avara Michael 4
4 · Horizon Lines, Inc. · Filed Jul 27, 2012
Insider Transaction Report
Form 4
Avara Michael
Sr Vice President and CFO
Transactions
- Award
Restricted Stock Unit
2012-07-25+616,667→ 616,667 total→ Common Stock, par value (616,667 underlying)
Footnotes (2)
- [F1]Each restricted stock unit entitles the executive to receive one share of HRZ common stock or up to half of the restricted stock units may be settled in cash in lieu of common stock in the discretion of the compensation committee. Each restricted stock unit entitles the executive to recevie cash equal to the amount of any dividend equivalents credited to such restricted stock.
- [F2]Up to 61,667 restricted stock units will vest on March 31, 2013, 123,333 will vest on March 31, 2014 and 123,333 will vest on March 31, 2015 if certain performance conditions are met by the issuer on those dates; and 61,667 restricted stock units will vest on March 31, 2013, 123,334 will vest on March 31, 2014 and 123,333 will vest on March 31, 2015, based solely on continued employment by the executive on those dates.