MCDOWELL VIRGINIA 4
4 · ISLE OF CAPRI CASINOS INC · Filed Oct 24, 2012
Insider Transaction Report
Form 4
MCDOWELL VIRGINIA
President
Transactions
- Award
Restricted Stock Units (Performance Award)
2012-10-23+545,455→ 545,455 total→ Common Stock (545,455 underlying)
Footnotes (1)
- [F1]Performance-based restricted stock units ("RSUs") awarded pursuant to the Isle of Capri Casinos, Inc. Amended and Restated 2009 Long-Term Incentive Plan (the "Plan"). Each RSU represents a contingent right to receive one share of Company common stock at the end of the measurement period (October 23, 2012 to April 26, 2015). The number of RSUs that may be earned shall be determined at the end of the measurement period based on the average of the closing market prices of the Company's common stock for the ninety (90) calendar-day period ending on April 26, 2015, and is further contingent upon the Company achieving a threshold level of total shareholder return over the measurement period relative to certain other regional gaming companies. The number of RSUs that may be earned are as follows: 187,500 RSUs at the threshold level; 545,455 RSUs at the target level; and 857,143 RSUs at the maximum level. If the share price does not reach the threshold level, none of the RSUs will be earned and such unearned RSUs will expire at the end of the measurement period. Assuming that the participant remains employed at the end of the measurement period, fifty percent (50%) of the RSUs shall become immediately vested as of the last day of the measurement period (April 26, 2015) and the remaining fifty percent (50%) of the RSUs shall become vested one-year thereafter (April 26, 2016). All RSUs that have vested shall be issued within sixty (60) days of vesting. Other provisions apply in the event of death, disability, retirement, termination without cause and change of control.