O'Keefe Colleen A 4
4 · NOVELL INC · Filed Dec 10, 2009
Insider Transaction Report
Form 4
NOVELL INCNOVL
O'Keefe Colleen A
Senior VP of Services
Transactions
- Award
Common Stock
2009-12-08+62,656→ 208,722 total - Award
Stock Option (right to buy)
2009-12-08+128,205→ 128,205 totalExercise: $3.99Exp: 2017-12-08→ Common Stock (128,205 underlying)
Footnotes (2)
- [F1]Represents shares of common stock that may be issued upon the vesting of a like number of restricted stock units granted on December 8, 2009. The units will vest in three equal installments if the last reported sales price of Novell's common stock on NASDAQ for the immediately preceding 20 consecutive trading day period equals or exceeds $5.50, $7.00 and $8.50 respectively, which target prices are subject to reduction at the discretion of the Company's Board of Directors or a committee thereof. As the restricted stock units vest, the vested units will automatically be converted to vested common stock on a one-for-one basis. Any units that have not vested by December 8, 2016, will be forfeited.
- [F2]Of these securities, 25% vest on December 8, 2010, and 2.0833% vest monthly thereafter so that the options are fully vested on December 8, 2013.