Pendrell Corp 4
4 · Pendrell Corp · Filed Sep 16, 2014
Insider Transaction Report
Form 4
EDNIE STEVE
VP and Chief Financial Officer
Transactions
- Award
Restricted Stock Unit Award
2014-09-15+150,000→ 150,000 totalExercise: $0.00From: 2015-09-15Exp: 2017-09-15→ Common Stock (150,000 underlying) - Award
Restricted Stock Unit Award
2014-09-15+250,000→ 250,000 totalExercise: $0.00From: 2015-09-15Exp: 2024-09-15→ Common Stock (250,000 underlying) - Award
Employee Stock Option (Right to Buy)
2014-09-15+500,000→ 500,000 totalExercise: $1.31From: 2015-09-15Exp: 2024-09-15→ Common Stock (500,000 underlying)
Footnotes (3)
- [F1]25% of the award is scheduled to vest on each of September 15, 2015, September 15, 2016, September 15, 2017 and September 15, 2018, subject to the continued employment of the Reporting Person through such dates.
- [F2]Converts into Common Stock on a unit-for-share basis upon vesting.
- [F3]The restricted stock units will fully vest when both of the following have occurred: (i) the average closing price of the Company's Class A common stock, measured over any period of 60 consecutive calendar days, has reached or exceeded $3.00 per share (the "Price Trigger"), and (ii) the first anniversary of the grant date has occurred. If the Price Trigger is not achieved by the third anniversary of the grant date, then none of the restricted stock units will vest.