PACIFIC FINANCIAL CORP 4
4 · PACIFIC FINANCIAL CORP · Filed Mar 25, 2014
Insider Transaction Report
Form 4
PACIFIC FINANCIAL CORPpflc.ob
Transactions
- Award
Options (right to buy)
2013-02-11+20,000→ 20,000 totalExercise: $5.00From: 2014-02-11Exp: 2023-02-11→ Common Stock (20,000 underlying) - Award
Restricted Stock Units
2013-02-11+2,603→ 2,603 totalFrom: 2016-02-11→ Common Stock (2,603 underlying)
Footnotes (3)
- [F1]Each restricted stock unit represents a contingent right to receive one share of common stock of the issuer.
- [F2]The restricted stock units vest on third anniversary of grant date, if not previously forfeited. Vested shares will be delivered to the reporting person on the first business day following third anniversary of grant date. Restricted stock units are forfeited if, prior to third anniversary of grant date, the reporting person ceases to be an employee of the issuer for any reason other than an acceleration event, or is placed on probation by the issuer.
- [F3]The options vest in five equal annual installments beginning on February 11, 2014.