PITTS RALPH A 4
4 · BELK INC · Filed Apr 9, 2013
Insider Transaction Report
Form 4
BELK INCNONE
PITTS RALPH A
EVP & General Counsel
Transactions
- Award
Class B Common Stock
2013-03-29+37,060→ 61,824 total - Tax Payment
Class B Common Stock
2013-03-29$50.00/sh−11,207$560,350→ 50,617 total
Footnotes (4)
- [F1]37,060 shares of Belk, Inc. Class B common stock were received by Reporting Person. 11,048 of those shares were received as the balance of the Belk, Inc. Executive Long Term Incentive Compensation Plan XII. 15,195 of those shares were received for the Belk, Inc. Executive Long Term Incentive Compensation Plan XIII. 7,597 of the shares from the Belk, Inc. Executive Long Term Incentive Compensation Plan XIII are not payable to the Reporting Person until 2014. 10,817 of those shares were issued to the Reporting Person in accordance with the terms of the Belk, Inc. 2011-2013 Stretch Incentive Plan, representing one-half of the award. The other half of the award will be issued in 2014, and has a cash value of $540,850.00. The award will be settled in shares, with the number of shares determined by dividing the cash value of the award by the appraised value of the shares on the date of issuance.
- [F2]54,227 shares of Class B common stock are held in Reporting Person's name. 7,597 of the shares from the Belk, Inc. Executive Long Term Incentive Compensation Plan XIII are not payable to the Reporting Person until 2014.
- [F3]11,207 shares of Class B common stock were withheld for taxes from the total shares awarded to Reporting Person from the balance of Belk, Inc. Executive Long Term Incentive Compensation Plan XII, the first part of Belk, Inc. Executive Long Term Incentive Compensation Plan XIII and the first part of Belk, Inc. 2011-2013 Stretch Incentive Plan.
- [F4]43,020 shares of Class B common stock are held in Reporting Person's name. 7,597 of the shares from the Belk, Inc. Executive Long Term Incentive Compensation Plan XIII are not payable to the Reporting Person until 2014.