Bush Robert J 4/A
4/A · Beneficial Mutual Bancorp Inc · Filed Aug 8, 2011
Insider Transaction Report
Form 4/AAmended
Bush Robert J
Executive V.P.
Transactions
- Award
Common Stock
2011-05-27+0→ 0 total(indirect: Restricted Stock IV) - Award
Stock Option (Right to Buy)
2011-05-27+0→ 0 totalExercise: $8.38Exp: 2021-05-27→ Common Stock (0 underlying) - Award
Common Stock
2011-05-27+0→ 0 total(indirect: Performance Award II)
Footnotes (3)
- [F1]The award represents shares of restricted stock which vest accordingly: if during the performance measurement period (beginning with the 12 months ended December 31, 2011 and ending with the 12 months ended December 31, 2015), the Company achieves a rate of return on average assets ("ROAA") of not less than 1% during any of those 12-month periods, then shares will begin to vest in 5 equal annual installments commencing on May 27, 2013. However, if the Company does not achieve an ROAA of not less than 1% by December 31, 2016, the performance requirement for vesting purposes will be that the Company must be ranked in the top quartile of the SNL index of thrifts nationwide with assets between $1 billion and $10 billion based on ROAA (the "SNL Index") for the 2015 fiscal year. In the event the Company is not in the top quartile of the SNL Index based on upon the Company's fiscal 2016 financial performance, then all shares subject to this award will be forfeited.
- [F2]Shares of restricted stock vest at a rate of 60% commencing on May 27, 2014, the third anniversary of the date of the award, 20% vest on May 27, 2015, and the remaining 20% vests on May 27, 2016.
- [F3]Options vest in equal annual installments over a 5-year period with the first 20% vesting on May 27, 2012, the first anniversary of the date of the grant.