Claman Joshua 4
4 · ReachLocal Inc · Filed Feb 20, 2013
Insider Transaction Report
Form 4
ReachLocal IncRLOC
Claman Joshua
Chief Revenue Officer
Transactions
- Award
Common Stock
2013-02-14+24,038→ 44,038 total - Award
Stock Option (Right to Buy)
2013-02-14+20,590→ 20,590 totalExercise: $12.98Exp: 2020-02-13→ Common Stock (20,590 underlying)
Footnotes (2)
- [F1]Shares are restricted shares whose restrictions will lapse based on achievement of a stock price target, as well as continued service, as follows: if the stock price target is first achieved in 2013, 100% of the shares will vest in 1/3 increments on the first, second and third anniversaries of the February 14, 2013 grant date, if the stock price target is first achieved during 2014, 20% of the shares will be forfeited and the remaining 80% of the shares will vest 2/3 on the second anniversary of the grant date and 1/3 on the third anniversary of the grant date, and if the stock price target is first achieved during 2015, 60% of the shares will be forfeited and the remaining 40% of the shares will vest on the third anniversary of the grant date. If the stock price target is not achieved by December 31, 2015, all shares will be forfeited.
- [F2]The shares subject to this option will vest according to the following schedule: 25% of the total number of shares vest on the first anniversary of the February 14, 2013 vesting start date and pro-rata monthly thereafter. This stock option will be completely vested on the fourth anniversary of the vesting start date.