HALE MICHAEL W 4
4 · POLYMER GROUP INC · Filed Apr 13, 2009
Insider Transaction Report
Form 4
POLYMER GROUP INCPOLGA.OB
HALE MICHAEL W
Chief Operating Officer
Transactions
- Tax Payment
Class A Common Stock
2009-04-09$4.25/sh−7,844$33,337→ 50,881 total - Award
Class A Common Stock
2009-04-09$365.59/sh+36,559$13,365,605→ 58,725 total
Footnotes (2)
- [F1]The shares of restricted stock were granted to the reporting person under the terms of the Polymer Group, Inc. 2008 Long-Term Stock Incentive Plan on 4/9/2009 pursuant to Rule 16b-3 as part of the Companys program to allow employees, including the reporting person, to receive (a) stock in lieu of cash to which he was otherwise entitled under the terms of the Polymer Group, Inc. Short -Term Incentive Compensation Plan for fiscal 2008 performance plus (b) an award of additional restricted stock based on the reporting persons level of cash participation in the program as an incentive to participate. Of the 36,559 shares, 20,891 vest immediately and the balance of 15,668 will vest in two equal installments on 4/9/2010 and 4/9/2011, unless earlier forfeited under the terms of the issuer.
- [F2]These shares of restricted stock were withheld by the issuer in order to satisfy income tax withholding requirements relating to the prior grant of immediately vested restricted stock to the reporting person on 4/9/2009.