NATIONAL SECURITY GROUP INC 4
4 · NATIONAL SECURITY GROUP INC · Filed Feb 20, 2007
Insider Transaction Report
Form 4
BRUNSON J R
Director
Transactions
- Will/Inheritance
Common Stock
2007-02-19$18.14/sh−45,641$827,928→ 0 total - Will/Inheritance
Common Stock
2007-02-19$18.14/sh−155,658$2,823,636→ 45,641 total
Holdings
- 14,638
Phantom Stock
→ Phantom Stock (14,638 underlying)
Footnotes (1)
- [F1]The phantom stock units were awarded under the nonqualified deferred compensation plan in which directors could elect to defer their directors' fees by receiving phantom stock units payable in cash upon separation from service from the board. The plan was frozen on 12/31/2004. These shares were acquired during the fiscal year pursuant to the dividend reinvestment component of the nonqualified deferred compensation plan which was frozen on 12/31/2004. Upon separation from service from the Board, phantom stock units will be settled in cash at the then current market price of common stock. Payment will be made during first quarter of 2007.