AVATAR HOLDINGS INC 4
4 · AVATAR HOLDINGS INC · Filed May 26, 2005
Insider Transaction Report
Form 4
KELFER GERALD D
DirectorPresident & CEO
Transactions
- Award
Performance Conditioned Restricted Stock Units (1)
2005-05-24+30,000→ 30,000 totalExercise: $65.00Exp: 2011-06-30→ Common Stock (30,000 underlying) - Award
Performance Conditioned Restricted Stock Units (2)
2005-05-24+30,000→ 30,000 totalExercise: $72.50Exp: 2011-06-30→ Common Stock (30,000 underlying) - Award
Performance Conditioned Restricted Stock Units (3)
2005-05-24+30,000→ 30,000 totalExercise: $80.00Exp: 2011-06-30→ Common Stock (30,000 underlying)
Footnotes (3)
- [F1]Under plan approved by stockholders on May 24, 2005, the grant of the units is conditioned upon (i) the closing price of the Issuer's Common Stock being at least $65.00 per share for 20 trading days out of 30 consecutive trading days during the period beginning April 15, 2005 and ending June 30, 2011, and (ii) the continued employment of the Reporting Person at the time the foregoing condition is satisfied. Subject to certain limited exceptions, any units granted to the Reporting Person vest in full on June 30, 2011 or upon the occurrence of a change of control of the Issuer, provided that, in either case, the Reporting Person is then employed by the Issuer.
- [F2]Under plan approved by stockholders on May 24, 2005, the grant of the units is conditioned upon (i) the closing price of the Issuer's Common Stock being at least $72.50 per share for 20 trading days out of 30 consecutive trading days during the period beginning April 15, 2005 and ending June 30, 2011, and (ii) the continued employment of the Reporting Person at the time the foregoing condition is satisfied. Subject to certain limited exceptions, any units granted to the Reporting Person vest in full on June 30, 2011 or upon the occurrence of a change of control of the Issuer, provided that, in either case, the Reporting Person is then employed by the Issuer.
- [F3]Under plan approved by stockholders on May 24, 2005, the grant of the units is conditioned upon (i) the closing price of the Issuer's Common Stock being at least $80.00 per share for 20 trading days out of 30 consecutive trading days during the period beginning April 15, 2005 and ending June 30, 2011, and (ii) the continued employment of the Reporting Person at the time the foregoing condition is satisfied. Subject to certain limited exceptions, any units granted to the Reporting Person vest in full on June 30, 2011 or upon the occurrence of a change of control of the Issuer, provided that, in either case, the Reporting Person is then employed by the Issuer.