SORENSEN JEFFREY J. 4
4 · Zep Inc. · Filed Jan 15, 2010
Insider Transaction Report
Form 4
Zep Inc.ZEP
SORENSEN JEFFREY J.
VP, Chief Marketing Officer
Transactions
- Exercise/Conversion
Performance Shares
2010-01-14−1,045→ 1,045 totalExercise: $0.00→ Common Stock (1,045 underlying) - Exercise/Conversion
Common Stock
2010-01-14+1,045→ 4,589 total
Footnotes (3)
- [F1]Represents the right to receive shares of Zep common stock upon the achievement of specified Stock Appreciation Targets ("SATs") and Target Dates. The SATs are $17.21, $18.03, $18.85 and $19.67, and the related Target Dates are September 1, 2010, September 1, 2011, September 1, 2012 and September 1, 2013, respectively. If any or all of the SATs have not been achieved by the last Target Date, the shares may nevertheless become vested if the price of the Company's common stock met or exceeded the return of the Russell 2000 Index for the four-year period beginning on the grant date and ending on the last Target Date.
- [F2]The Performance Stock Award granted on September 1, 2009 achieved the third SAT on January 14, 2010. The shares will become fully vested on September 1, 2012.
- [F3]The total direct shares shown includes 4,322 time-vesting restricted and/or performance shares.