SEIBT RICHARD 4
4 · NOVELL INC · Filed Dec 14, 2004
Insider Transaction Report
Form 4
NOVELL INCNOVL
SEIBT RICHARD
President, Novell EMEA
Transactions
- Award
Stock Option to buy
2004-12-13+68,750→ 68,750 totalExercise: $6.35Exp: 2012-12-13→ Common Stock (68,750 underlying) - Award
Stock Option to buy
2004-12-13+137,500→ 137,500 totalExercise: $6.35From: 2005-12-13Exp: 2012-12-13→ Common Stock (137,500 underlying)
Footnotes (3)
- [F1]100% of the options vest on the close of business on the thirtieth consecutive trading day that the reported closing price of Novell's Common Stock on the NASDAQ National Market has been greater than or equal to $7.30; provided that if such condition is satisfied prior to the first annual anniversary of the date of grant, the vesting date shall occur on such first annual anniversary. If this condition is not satisfied, all of such options shall vest on the sixth annual anniversary of the date of grant.
- [F2]100% of the options vest on the close of business on the thirtieth consecutive trading day that the reported closing price of Novell's Common Stock on the NASDAQ National Market has been greater than or equal to $8.26; provided that if such condition is satisfied prior to the first annual anniversary of the date of the grant, the vesting date shall occur on such first annual anniversary. If this condition is not satisfied, all of such options shall vest on the sixth annual anniversary of the date of grant.
- [F3]Of these shares, 25% vest after 1 year, and 2.0833% vest monthly thereafter so that the options are fully vested on the fourth annual anniversary of the date of grant.