CORN MERTON 5
5 · VSB BANCORP INC · Filed Jan 5, 2006
Insider Transaction Report
Form 5
VSB BANCORP INCVSBN
CORN MERTON
DirectorPresident & CEO
Transactions
- Other
Common Stock
2005-12-09$20.25/sh−26$527→ 581.546 total(indirect: Shares allocated in the Company's Employee Stock Ownership Plan)
Holdings
- 135,200
Common Stock
- 5,000
Option (Common Stock)
Exercise: $22.00From: 2005-12-13Exp: 2014-04-27→ Common Stock (5,000 underlying)
Footnotes (2)
- [F1]Mr. Corn, upon reaching the age of 70 1/2, was required to take a minimum distribution of 26 shares of stock from those shares which were previously credited to his sub account in the Company's Employee Stock Ownership Plan. Mr. Corn elected to take that required distribution in cash and the Employee Stock Ownership Plan paid him the cash on December 9, 2005, thus terminating his indirect interest in the related 26 shares.
- [F2]Represents the remaining indirect ownership of shares allocated to Mr. Corn under the Company's Employee Stock Ownership Plan.