4//SEC Filing
IVES MICHAEL S 4
Accession 0001317846-06-000019
CIK 0000719731other
Filed
Dec 27, 7:00 PM ET
Accepted
Dec 28, 6:07 PM ET
Size
8.9 KB
Accession
0001317846-06-000019
Insider Transaction Report
Form 4
IVES MICHAEL S
DirectorPresident & CEO
Transactions
- Award
Stock Option (right to buy)
2006-12-28+70,000→ 100,000 totalExercise: $15.56Exp: 2016-07-25→ Common Stock (70,000 underlying) - Other
Limited Alternative Stock Appreciation Right
2006-12-28−70,000→ 0 totalExercise: $15.56→ Common Stock (70,000 underlying)
Footnotes (5)
- [F1]The option grant was approved by the Board of Directors of the Issuer on July 26, 2006, subject to shareholder approval of the stock option plan under which the option was granted (the "Stock Option Plan"). The Issuer's shareholders approved the Stock Option Plan on December 28, 2006.
- [F2]The options become exercisable at the rate of 20% commencing on December 31, 2006 and continuing on each subsequent December 31 (including, in certain circumstances, any December 31 following the retirement of the Reporting Person after attainment of age 55).
- [F3]Pursuant to its terms, the Limited Alternative Stock Appreciation Right ("LASAR") is void upon approval by the Issuer's shareholders of the Stock Option Plan. The Stock Option Plan was approved on December 28, 2006; accordingly, the LASAR was void immediately thereupon.
- [F4]The LASAR was exercisable only upon a change of control of the Issuer.
- [F5]The LASAR was void upon approval of the Stock Option Plan by the Issuer's shareholders, which occurred December 28, 2006.
Documents
Issuer
HERITAGE BANKSHARES INC /VA
CIK 0000719731
Entity typeother
Related Parties
1- filerCIK 0001317846
Filing Metadata
- Form type
- 4
- Filed
- Dec 27, 7:00 PM ET
- Accepted
- Dec 28, 6:07 PM ET
- Size
- 8.9 KB