ADTRAN INC 4
4 · ADTRAN INC · Filed Oct 28, 2013
Insider Transaction Report
Form 4
ADTRAN INCADTN
IRELAND ROSS K
Director
Transactions
- Exercise/Conversion
Dividend Equivalent Rights
2013-10-08−47.775→ 0 total→ Common Stock (47.775 underlying) - Disposition to Issuer
Common Stock
2013-10-08−4,141.775→ 1,696.775 total - Award
Phantom Stock
2013-10-08+4,141.775→ 6,202.539 total→ Common Stock (4,141.775 underlying) - Exercise/Conversion
Common Stock
2013-10-08+47.775→ 5,790.775 total - Award
Phantom Stock
2013-08-08+12.682→ 2,060.764 total→ Common Stock (12.682 underlying)
Footnotes (5)
- [F1]Settlement of dividend equivalent rights in connection with lapse of restriction on restricted stock. The rights accrued when and as dividends were paid on the Company's common stock. Each dividend equivalent right is the economic equivalent of one share of the Company's common stock
- [F2]Upon the vesting of the restricted stock that was granted to the reporting person on December 31, 2012, the reporting person deferred the receipt of 4094 shares of the Company's common stock and received instead 4094 shares of phantom stock pursuant to the Company's deferred compensation plan. Upon settlement of the dividend equivalent rights that accrued on the 4094 shares of restricted stock, the reporting person deferred the receipt of 47.775 shares of common stock and instead received an additional 47.775 shares of phantom stock pursuant to the Company's deferred compensation plan. As a result, the reporting person is reporting the disposition of 4141.775 shares of common stock in exchange for an equal number of shares of phantom stock.
- [F3]Each share of phantom stock represents a right to receive one share of common stock or the cash value thereof.
- [F4]Pursuant to the Company's deferred compensation plan, shares of phantom stock accrued when and as dividends were paid on the Company's common stock.
- [F5]The phantom stock becomes payable 6 months after the reporting person's separation of service with the Company. The reporting person may transfer his phantom stock account into an alternative investment at any time.