Zuniga-Rivero Fernando J 4
4 · BPZ RESOURCES, INC. · Filed Jun 30, 2010
Insider Transaction Report
Form 4
Zuniga-Rivero Fernando J
DirectorChairman
Transactions
- Award
Common Stock
2010-07-01+13,200→ 4,859,373 total - Award
Incentive Stock Option
2010-07-01+39,525→ 39,525 totalExercise: $4.80Exp: 2020-07-01→ Common Sotck (39,525 underlying)
Footnotes (5)
- [F1]The exercise price is based on the closing market price on the date of Board approval of the grant, June 25, 2010.
- [F2]On July 1, 2010, the reporting person was granted 13,200 shares of Common Stock pursuant to the Company's 2007 Long-term Incentive Compensation Plan. The grant cliff vests on the second anniversary of the date of grant.
- [F3]On July 1, 2010, the reporting person was granted an option to purchase 39,525 shares of Common Stock pursuant to the Company's 2007 Long-Term Incentive Compensation Plan. The exercise price of the Common Stock covered by the option is $4.80 per share. The option vests in three equal annual installments of 13,175 shares over the succeeding three anniversaries of the date of grant. The unexercised portion of the option shall expire and cease to be exercisable on July 1, 2020.
- [F4]The number of shares reflected above as beneficially owned by Dr. Zuniga y Rivero includes 1,049,846 shares, 228,169 shares and 1,191,917 shares held in grantor retained annuity trusts, but does not include 81,563 shares held of record by his wife, Blanca Pflucker de Zuniga as Dr Zuniga y Rivero disclaims beneficial ownership of these shares.
- [F5]The shares awarded are subject to the approval of the amendment of the Company's 2007 Long-Term Incentive Compensation Plan during the 2010 Annual Meeting of Shareholders to allow for an additional amount of securities to be made available for incentive awards.