LAMY FRANCIS A 4
4 · X RITE INC · Filed Mar 19, 2012
Insider Transaction Report
Form 4
X RITE INCXRIT
LAMY FRANCIS A
EVP- Chief Technology Officer
Transactions
- Exercise/Conversion
Restricted Stock Units (RSUs)
2012-03-15−90,475→ 80,208 totalFrom: 2012-03-15→ Common Stock (90,475 underlying) - Exercise/Conversion
Common Stock
2012-03-15+81,427→ 130,744 total - Award
Employee Stock Option (Right-to-buy)
2012-03-15+80,585→ 80,585 totalExercise: $4.55Exp: 2022-03-15→ Common Stock (80,585 underlying)
Footnotes (4)
- [F1]As part of grant on October 30, 2008, 90,475 non-derivative performance-based restricted stock units were issued under the X-Rite, Incorporated 2008 Omnibus Long Term Incentive Plan and were eligible for release on March 15, 2012. The vesting schedule, which was voluntarily reported on a Form 4, for these performance stock units was based on the achievement of certain annual performance targets for the Company's fiscal year end 2011. It was determined that the performance targets were not fully met, and therefore only this portion of the restricted stock units were converted to shares and released. The remaining 9,048 RSUs scheduled to vest on March 15, 2012 were forfeited.
- [F2]The stock options will vest in four equal installments: one-fourth of the total award will vest on the first anniversary of the grant date, one-fourth of the total award will vest on the second anniversary of the grant date, one-fourth of the total award will vest on the third anniversary of the grant date, and one-fourth of the total award will vest on the fourth anniversary of the grant date.
- [F3]As voluntarily report on a Form 4 dated November 3, 2008, Mr. Lamy was awarded 231,000 non-derivative performance-based restricted stock units on October 30, 2008. These performance-based restricted stock units were issued under the X-Rite, Incorporated 2008 Omnibus Long Term Incentive Plan. One third of the restricted stock units vests over a three year measurement period, one third vests over a four year measurement period and one third vests over a five year measurement period, in each case, provided that certain performance targets are met during the applicable measurement period and the recipient remains employed by the company through the applicable measurement period. On March 3, 2011, it was determined that the annual performance targets for 2010 were satisfied and 60,317 shares were issued in line with the Restricted Stock Unit Agreement between Mr. Lamy and the Company.
- [F4]Each restricted stock unit represents a contingent right to receive one share of X-Rite stock.