4//SEC Filing
DONNELL JON M 4
Accession 0001253550-10-000058
CIK 0000039677other
Filed
Nov 16, 7:00 PM ET
Accepted
Nov 17, 2:36 PM ET
Size
6.8 KB
Accession
0001253550-10-000058
Insider Transaction Report
Form 4
DONNELL JON M
DirectorPRESIDENT AND CEO
Transactions
- Award
RESTRICTED COMMON STOCK
2010-11-15+310,000→ 310,000 total
Footnotes (2)
- [F1]Of the 310,000 Restricted Shares of Common Stock (the "Shares") awarded, 70,000 Shares (the "time based award") vest incrementally over a time period ending December 31, 2014, and up to 240,000 Shares (the "performance based award") vest depending upon the price of the Issuer's Common Stock being at least equal to specified hurdle prices (ranging from $25 to $40) for 20 trading days out of any consecutive 30-day period of time at dates through December 31, 2015, in each case subject to the Reporting Person's continued employment with the Issuer. (See Note 2 for a continued description of the terms and conditions of the award of the Shares.)
- [F2]Subject to the terms of that certain Employment Agreement dated as of October 19, 2010 between the Issuer and the Reporting Person (the "Agreement"), in the event the Reporting Person's employment is terminated by the Issuer without Cause (as such term is defined in the Agreement) or the Reporting Person terminates his employment for Good Reason (as such term is defined in the Agreement), Reporting Person will be entitled to receive: (a) a number of the time based award Shares that will vest as of the date of termination based on the number of Shares that would have vested during that year and the number of days Reporting Person worked that year; and (b) any performanced based Shares that would have vested on December 31 of the year in which termination occurs (because some or all of the applicable provisions of the Agreement were satisfied before the date of such termination).
Documents
Issuer
AVATAR HOLDINGS INC
CIK 0000039677
Entity typeother
Related Parties
1- filerCIK 0001199409
Filing Metadata
- Form type
- 4
- Filed
- Nov 16, 7:00 PM ET
- Accepted
- Nov 17, 2:36 PM ET
- Size
- 6.8 KB