LOWDER ROBERT E 4/A
4/A · COLONIAL BANCGROUP INC · Filed Jan 2, 2009
Insider Transaction Report
Form 4/AAmended
LOWDER ROBERT E
DirectorCEO
Transactions
- Award
Non-Qualified Stock Option (right to buy)
2008-01-15+200,000→ 0 totalExercise: $11.29From: 2009-01-15Exp: 2018-01-15→ Common Stock (200,000 underlying)
Footnotes (3)
- [F1]On January 17, 2008 Mr. Lowder reported a stock option award under CNB's 2001 Long-Term Incentive Plan (the "Plan") made by the Compensation Committee that was intended to cover 258,491 shares with an exercise price of $11.29, the then current market value of CNB's common stock per share. The Plan includes a 200,000 share limit on the number of shares subject to stock options awarded to any individual in a calendar year and as a result, at a meeting held on December 30, 2008, the Committee corrected this award to properly reflect it as a stock option award for 200,000 shares.
- [F2]Options vest in 5 equal installments, 20% annually beginning one year from the date of grant.
- [F3]The price of the reported derivative security award has been corrected to reflect that no consideration was paid to CNB for this award.