WALTERS IRENE 4
4 · TOWER FINANCIAL CORP · Filed May 29, 2012
Insider Transaction Report
Form 4
WALTERS IRENE
Director
Transactions
- Award
Deferred Stock Units
2012-05-25+395→ 395 totalExercise: $0.00From: 2013-05-25Exp: 2013-05-25→ Common Stock (395 underlying)
Footnotes (3)
- [F1]Pursuant to registrant's Amendment No. 1 to 2006 Equity Incentive Plan, the reporting person on May 25, 2012 was granted an exempt award of Deferred Stock Units ("DSUs").
- [F2]The reporting person, by prior election, chose to receive her common stock, when converted from DSUs, at the expiration of one year following the date of the grant.
- [F3]Each whole DSU represents registrant's unsecured and unfunded obligation, upon the expiration of the reporting person's deferral period election, to convert and issue to the reporting person one share of registrant's common stock for each DSU. The DSUs are 100% vested on the grant date.