4//SEC Filing
Hughes Sharon 4
Accession 0001477440-09-000004
CIK 0000863456other
Filed
Nov 24, 7:00 PM ET
Accepted
Nov 25, 3:02 PM ET
Size
10.5 KB
Accession
0001477440-09-000004
Insider Transaction Report
Form 4
WET SEAL INCWTSLA
Hughes Sharon
President & CMO of AB Division
Transactions
- Award
Non-Qualified Stock Option (right to buy)
2009-11-23+85,000→ 85,000 totalExercise: $3.43Exp: 2014-11-23→ Common Stock Class A (85,000 underlying) - Award
Common Stock Class A
2009-11-23+27,000→ 27,000 total - Award
Common Stock Class A
2009-11-23+27,000→ 54,000 total
Footnotes (3)
- [F1]Represents performance shares granted pursuant to The Wet Seal, Inc. 2005 Stock Incentive Plan (the "2005 Stock Incentive Plan") on November 23, 2009 (the "Grant Date"). These performance shares vest as follows: (i) 13,500 shares shall vest on or after November 23, 2010, but not later than November 23, 2011, if, at any time following the Grant Date through November 23, 2011 (the "Tranche 1 Vesting Period"), the weighted average closing price of the Issuer's common stock for any trailing 20 days (the "20-Day Average") equals or exceeds $4.19 per share (the "Tranche 1 Base Price"); and (ii) the remaining 13,500 shares shall vest on or after November 23 2010, but not later than November 23, 2011, if, at any time during the Tranche 1 Vesting Period, the 20-Day Average equals or exceeds 120% of the Tranche 1 Base Price.
- [F2]Represents performance shares granted pursuant to the 2005 Stock Incentive Plan on the Grant Date. These performance shares vest as follows: (i) 13,500 shares shall vest on November 23, 2011, if, at any time following November 23, 2010, through November 23, 2011 (the "Tranch 2 Vesting Period"), the 20-Day Average equals or exceeds $6.03 per share (the "Tranche 2 Base Price"); and (ii) the remaining 13,500 shares shall vest on November 23, 2011, if, at any time during the Tranche 2 Vesting Period the 20-Day Average equals or exceeds 120% of the Trache 2 Base Price.
- [F3]Represents stock options granted pursuant to the 2005 Stock Incentive Plan. These options will become vested and exercisable with respect to 33 1/3% of the shares on each of the next three (3) anniversaries of the Grant Date until the options are 100% vested, subject to the Reporting Person's continuous service with the Issuer on each of those vesting dates.
Documents
Issuer
WET SEAL INC
CIK 0000863456
Entity typeother
Related Parties
1- filerCIK 0001477440
Filing Metadata
- Form type
- 4
- Filed
- Nov 24, 7:00 PM ET
- Accepted
- Nov 25, 3:02 PM ET
- Size
- 10.5 KB