BURNS JOHN E 4
4 · SOVRAN SELF STORAGE INC · Filed May 26, 2009
Insider Transaction Report
Form 4
BURNS JOHN E
Director
Transactions
- Award
Common Stock unit
2009-05-21+563.29→ 5,422.57 totalExercise: $0.00From: 2009-05-21→ Common Stock (563.29 underlying) - Award
Common Stock
2009-05-21+864→ 9,710 total - Award
Director's stock option (right to buy)
2009-05-21+2,000→ 2,000 totalExercise: $23.15From: 2009-05-21Exp: 2019-05-21→ Common Stock (2,000 underlying)
Footnotes (4)
- [F1]The exercise period of the stock options is the later of 10 years or one year following the date on which the outside director ceases to serve as a director of the Company.
- [F2]Stock options granted without cost in connection with service as an outside director.
- [F3]Phantom shares of Common Stock ("Units") acquired in lieu of director's fees pursuant to the Sovran Self Storage, Inc. Deferred Compensation Plan for Directors. The number of Units was determined by dividing the amount of compensation otherwise payable by the closing price of the Company's Common Stock on May 20, 2009, $22.81.
- [F4]The Units have no expiration date but will be converted into common shares and distributed at the earlier of the Director's election or within ten days of the cessation of the Director's service as a Director.