Stacey Kim T 4
4 · TOWER FINANCIAL CORP · Filed May 9, 2013
Insider Transaction Report
Form 4
Stacey Kim T
Director
Transactions
- Award
Common Stock
2013-05-08+489→ 1,191 total - Other
Deferred Stock Units
2013-05-09−702→ 0 totalExercise: $0.00→ Common Stock (702 underlying)
Holdings
- 560(indirect: By Trust)
Common Stock
Footnotes (4)
- [F1]Pursuant to registrant's Amendment No. 1 to 2006 Equity Incentive Plan, the reporting person on May 8, 2013 was granted an exempt award of 489 Deferred Stock Units ("DSUs") reportable as directly owned shares of common stock, rather than as a derivative security in Table II, because any and all underlying DSUs are payable, at such time as they are to be settled, solely in common stock. (See Lincoln National Corp. (March 20, 1992) (Q.3)).
- [F2]Includes the addition of 702 DSUs previously reported in Table II of Form 4, and hereby moved from Table II to Table I, by virtue of footnote (1).
- [F3]The DSUs previously reported in Table II have now been moved to Table I and reported as directly owned shares of common stock and will be reported as such in the future until the underlying DSUs are settled at the end of their deferral period.
- [F4]The reporting person, by prior election, chose to receive his common stock, when converted from DSUs, at the expiration of one year following the termination of the undersigned's service as a director of the registrant.