HALE MICHAEL W 4
4 · POLYMER GROUP INC · Filed Apr 27, 2010
Insider Transaction Report
Form 4
POLYMER GROUP INCPOLGA.OC
HALE MICHAEL W
Chief Operating Officer
Transactions
- Award
Class A Common Stock
2010-04-26$75000.00/sh+12,500$937,500,000→ 94,884 total - Tax Payment
Class A Common Stock
2010-04-26$20.00/sh−2,839$56,780→ 88,295 total - Award
Class A Common Stock
2010-04-23$106.04/sh+10,604$1,124,448→ 82,384 total - Award
Restricted Stock Unit
2010-04-23+21,208→ 21,208 total→ Class A Common Stock (21,208 underlying) - Tax Payment
Class A Common Stock
2010-04-26$20.00/sh−3,750$75,000→ 91,134 total
Footnotes (7)
- [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 4/23/2010 pursuant to Rule 16b-3. These shares will vest in three annual installments beginning with 3,535 on 4/23/2011; 3,535 on 4/23/2012 and 3,534 on 4/23/2013, subject to earlier vesting upon a change of control of the issuer.
- [F2]The shares of stock were granted to the reporting person as a result of exercising previously granted options under the Polymer Group, Inc. 2003 Stock Option Plan on 4/26/2010 pursuant to Rule 16b-3 and vest immediately.
- [F3]The shares of stock were withheld by the issuer in order to satisfy the exercise price for options exercised on 4/26/2010.
- [F4]The shares of stock were withheld by the issuer in order to satisfy income tax withholding requirements relating to the options exercised on 4/26/2010.
- [F5]The Restricted Stock Units were granted to the reporting person under the terms of the Polymer Group, Inc. 2008 Long-Term Stock Incentive Plan on 4/23/2010 pursuant to Rule 16b-3.
- [F6]Each Restricted Stock Unit represents a contingent right to receive one share of Polymer Group, Inc., Class A Common Stock, par value $.01 per share.
- [F7]Subject to the achievement of certain performance conditions and unless earlier forfeited under its terms, the award, at targeted performance, will vest in three annual installments of 7,069 on 3/25/11, 7,069 on 3/25/12 and 7,070 on 3/25/13, respectively. Vested shares will be delivered to the reporting person within 30 days of the vesting date, subject to the terms of the award.