DONNELL JON M 4
4 · AVATAR HOLDINGS INC · Filed Jun 27, 2011
Insider Transaction Report
Form 4
DONNELL JON M
DirectorPRESIDENT AND CEO
Transactions
- Other
Restricted Common Stock, $1.00 par value
2011-06-23+6,822→ 293,178 total - Other
Restricted Common Stock, $1.00 par value
2011-06-23−293,178→ 0 total - Tax Payment
Common Stock, $1.00 par value
2011-06-23$15.88/sh−2,486$39,478→ 15,691 total
Footnotes (4)
- [F1]Of the 310,000 Restricted Shares of Common Stock (the "Shares") awarded to the Reporting Person pursuant to the terms of that certain Employment Agreement dated as of October 19, 2010 between the Issuer and the Reporting Person (the "Agreement"), 70,000 Shares were time based awards; 10,000 of which vested December 31, 2010 ( of which 3,645 were withheld by Issuer in payment of Reporting Person's tax liability), and 6,822 of which vested June 23, 2011 (of which 2,486 were withheld by Issuer in payment of Reporting Person's tax liability).
- [F2]The zero (0) in this column is a "dummy" amount, solely for the purpose of permitting the use of a descriptive footnote stating that the price is not applicable.
- [F3]Of the 310,000 Restricted Shares of Common Stock (the "Shares") awarded to the Reporting Person pursuant to the terms of that certain Employment Agreement dated as of October 19, 2010 between the Issuer and the Reporting Person (the "Agreement"), 70,000 Shares were time based awards; 10,000 of which vested December 31, 2010 and 6,822 of which vested June 23, 2011. The remaining 293,178 Restricted Shares which had not vested as of June 23, 2011 were forfeit upon termination of the Employment Agreement and were thereafter cancelled.
- [F4]Represents 2,486 shares of the Issuer's Common Stock withheld by Issuer in payment of Reporting Person's tax liability upon the removal of time-based restrictions on 6,822 shares of Issuer's Common Stock at a price of $15.88 per share. The Reporting Person owns 15,691 unrestricted shares of Issuer's Common Stock as of June 23, 2011.