GRACY ROBERT W 4
4 · NEXMED INC · Filed Nov 20, 2003
Insider Transaction Report
Form 4
NEXMED INCNEXM
GRACY ROBERT W
Director
Transactions
- Award
Common Stock
2003-11-19$4.19/sh+716$3,000→ 44,353 total
Footnotes (1)
- [F1]In lieu of cash compensation, certain Non-Employee Directors have opted to receive shares of the Company's common stock for their services rendered to the Board of Directors. The price per share (the "Price") is the average of the closing price of the Company's common stock over ten consecutive trading days, commencing on June 16, 2003. The Price will be used for calculating all stock compensation during the 2003-2004 service term. The number of shares is calculated based on the amount of cash the Director would have received in connection with the Board meeting divided by the Price. The shares are issued but held by the Company and not subject to disposition by the Director until the termination of the Director's service from the Company.