George Jeffrey W 4
4 · Hillshire Brands Co · Filed Sep 18, 2012
Insider Transaction Report
Form 4
George Jeffrey W
SVP, Research & Development
Transactions
- Award
common stock
2012-09-14+1,165→ 6,046 total
Footnotes (2)
- [F1]Represents restricted stock units (RSUs) granted upon conversion of performance stock units (PSUs). In anticipation of the spin-off of its international coffee and tea business that was completed on June 28, 2012, in fiscal 2012 the company granted PSUs under its FY12-14 long-term equity incentive program with a value equal to one-third of the annual grant amount. These PSUs were converted into RSUs to the extent the company achieved a one-year operating income target for fiscal 2012. The RSUs will settle and be converted into shares of common stock, on a one-for-one basis, on August 31, 2014, subject to the reporting person's continued employment through that date.
- [F2]Includes 1,165 RSUs that will be converted into shares of common stock, on a one-for-one basis, upon vesting.