4//SEC Filing
CENTURYTEL INC 4
Accession 0001225208-07-001893
$LUMNCIK 0000018926operating
Filed
Feb 19, 7:00 PM ET
Accepted
Feb 20, 5:17 PM ET
Size
9.6 KB
Accession
0001225208-07-001893
Insider Transaction Report
Form 4
CZESCHIN CALVIN
Director
Transactions
- Other
Common Stock
2007-02-15−265,088→ 50,831 total - Other
Contract (right to sell)
2007-02-15−308,924→ 0 totalExercise: $0.00From: 2007-02-15Exp: 2007-02-15→ Common Stock (308,924 underlying)
Holdings
- 11,997(indirect: By Spouse)
Common Stock
Footnotes (2)
- [F1]On December 8, 2005 the Reporting Person entered into a restructured variable share prepaid forward contract with an unaffiliated third party relating to 308,924 shares of CenturyTel, Inc. common stock (the "Common Stock"). Under the restructured contract, the Reporting Person agreed to deliver a number of shares of Common Stock on the third business day after Feb. 15, 2007 (the "Maturity Date") (or an earlier date if the contract was terminated early) pursuant to the following formula: (i) if the closing price of a share of the Common Stock on the Maturity Date (the "Settlement Price") is less than or equal to $32.6192 (the "Downside Protection Threshold Price"), 308,924 shares; (ii) if the Settlement Price is less than $39.1435 (the "Threshold Appreciation Price"), but greater than the Downside Protection Threshold Price, then a number of shares equal to 308,924 shares times the Downside Protection Threshold Price divided by the Settlement Price;
- [F2]or (iii) if the Settlement Price is greater than or equal to the Threshold Appreciation Price, then a number of shares equal to 308,924 shares multiplied by a fraction which is equal to 1 minus a fraction, the numerator of which is the difference between the Threshold Appreciation Price and the Downside Protection Threshold Price and the denominator of which is the Settlement Price. Alternatively, the Reporting Person had the option to settle the contract for cash, with the cash settlement amount being equal to the number of shares to be delivered multiplied by the Settlement Price. The closing price on the Maturity Date was $45.99. In accordance with the stock settlement terms of the restructured contract, the Reporting Person delivered to the third party 265,088 of the 308,924 shares of Common stock subject to the restructured contract and retained 43,836 of the shares subject to the restructured contract.
Documents
Issuer
CENTURYTEL INC
CIK 0000018926
Entity typeoperating
IncorporatedLA
Related Parties
1- filerCIK 0000018926
Filing Metadata
- Form type
- 4
- Filed
- Feb 19, 7:00 PM ET
- Accepted
- Feb 20, 5:17 PM ET
- Size
- 9.6 KB