GLIMCHER REALTY TRUST 4
4 · GLIMCHER REALTY TRUST · Filed May 14, 2012
Insider Transaction Report
Form 4
SCHMIDT GEORGE A
EVP & Chief Investment Officer
Transactions
- Award
Common Shares of Beneficial Interest
2012-05-10+19,717→ 182,649 total - Award
Performance Shares
2012-05-10+19,717→ 19,717 totalExp: 2014-12-31→ Common Shares of Beneficial Interest (19,717 underlying)
Footnotes (3)
- [F1]These common shares shall have transfer restrictions that shall lapse in three equal installments over a period of five years commencing on the three-year anniversary of the grant date.
- [F2]Award to Reporting Person under the 2012 Glimcher Realty Trust Incentive Compensation Plan (the "Plan") adopted by the Company's shareholders on May 10, 2012. The performance shares award provides for payment in the Company's common shares of beneficial interest in an amount ranging from 50% and 200% of the performance shares awarded based upon satisfaction of certain performance criteria over the performance period of January 1, 2012 to December 31, 2014 (unless a change in control of the Company occurs during the performance period, in which case the performance period will conclude on the date of the change of control and the performance criteria will be measured as of such date).
- [F3]Following completion of the performance period, a committee of independent trustees from the Company's Board of Trustees will certify the achievement of the performance criteria and thereafter transfer common shares of beneficial interest to the Reporting Person in accordance with the terms and conditions of the Plan.