REEDY TIMOTHY J 4
4 · WESTELL TECHNOLOGIES INC · Filed Apr 15, 2010
Insider Transaction Report
Form 4
REEDY TIMOTHY J
CEO of Conference Plus, Inc.
Transactions
- Award
Class A Common Stock
2010-04-13+60,000→ 130,000 total - Award
Performance-based Restricted Stock Units
2010-04-13+60,000→ 60,000 total→ Class A Common Stock (60,000 underlying)
Footnotes (3)
- [F1]On April 13, 2010, the Compensation Committee approved an award of restricted stock units pursuant to the 2004 Stock Incentive Plan. The restricted stock units vest 25% annually beginning on April 1, 2011 and for each of the following three years concluding on April 1, 2014. The restricted stock units convert on a 1-for-1 basis into Class A Common Stock.
- [F2]This award is subject to approval by stockholders at the next Annual Meeting of Stockholders.
- [F3]On April 13, 2010, the Compensation Committee approved a performance-based award of restricted stock units pursuant to the 2004 Stock Incentive Plan. The reported amount is the target award (which assuming performance at the target level would convert on a 1-for-1 basis into Class A Common Stock). The actual shares of Class A Common Stock earned can vary from 0% to 140% of the target award based on fiscal year 2011 performance. The Class A Common Stock award is also subject to further time-based vesting restrictions with 25% of the actual shares earned vesting upon determination of fiscal year 2011 financial performance with the remaining 75% vesting in equal installments annually beginning on April 1, 2012 and for each of the following two years concluding on April 1, 2014.