4/A//SEC Filing
IVES MICHAEL S 4/A
Accession 0001317846-09-000011
CIK 0000719731other
Filed
Jan 29, 7:00 PM ET
Accepted
Jan 30, 6:29 PM ET
Size
9.8 KB
Accession
0001317846-09-000011
Insider Transaction Report
Form 4/AAmended
IVES MICHAEL S
DirectorPresident & CEO
Transactions
- Disposition to Issuer
Employee Stock Option (right to buy)
2009-01-28−30,000→ 0 totalExercise: $19.79Exp: 2015-02-08→ Common Stock (30,000 underlying) - Award
Employee Stock Option (right to buy)
2009-01-28+30,000→ 30,000 totalExercise: $11.03Exp: 2015-02-08→ Common Stock (30,000 underlying)
Footnotes (5)
- [F1]The acquired options reported herein are fully exercisable (vested) as of the date of filing this Form 4.
- [F2]In addition, the options reported herein are subject to earlier termination in certain circumstances specified in the reporting person's Option Agreement, such as the reporting person's termination of employment with the issuer.
- [F3]This transaction reported herein reflects a repricing of options originally granted to the reporting person on July 26, 2006. As a result of the repricing, such options now have a lower exercise price; other than the reduced exercise price, there have been no other changes in the terms of such options. However, under Section 16 of the Securities Exchange Act of 1934 and the rules thereunder, a reduction in the exercise price of any option is treated as effectively canceling the old option and granting a new option as of the effective date of the repricing, and thus is being reported accordingly in this Form 4. NOTE: The repricing of the options reported herein is in consideration of, and is contingent upon, the reporting person entering into a currently-contemplated amendment to his Employment Agreement with the issuer that, among other things, would extend the term of the agreement.
- [F4]The options being reported as disposed in connection with the repricing were fully exercisable (vested) as of the date of filing this Form 4.
- [F5]The options being reported as disposed in connection with the repricing were subject to early termination as described in footnote 2 above.
Documents
Issuer
HERITAGE BANKSHARES INC /VA
CIK 0000719731
Entity typeother
Related Parties
1- filerCIK 0001317846
Filing Metadata
- Form type
- 4/A
- Filed
- Jan 29, 7:00 PM ET
- Accepted
- Jan 30, 6:29 PM ET
- Size
- 9.8 KB