SORENSEN JEFFREY J. 4
4 · Zep Inc. · Filed Dec 22, 2010
Insider Transaction Report
Form 4
Zep Inc.ZEP
SORENSEN JEFFREY J.
VP, Chief Marketing Officer
Transactions
- Exercise/Conversion
Common Stock
2010-12-20+320→ 7,753 total - Exercise/Conversion
Performance Shares
2010-12-20−320→ 958 total→ Common Stock (320 underlying)
Footnotes (2)
- [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 $19.06, $20.29, $22.06 and $23.82, and the related Target Dates are October 5, 2011, October 5, 2012, October 5, 2013 and October 5, 2014, 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 October 5, 2010 achieved the first SAT on December 20, 2010. The shares will become fully vested on October 5, 2011.