PACIFICARE HEALTH SYSTEMS INC /DE/ 4
4 · PACIFICARE HEALTH SYSTEMS INC /DE/ · Filed Jun 27, 2005
Insider Transaction Report
Form 4
PHANSTIEL HOWARD G
DirectorChairman of the Board & CEO
Transactions
- Award
Common Stock Units
2005-06-24+510→ 233,118 total→ Common Stock (510 underlying)
Footnotes (1)
- [F1]Represents the deferral of a portion of the reporting person's base salary into Common Stock Units under the PacifiCare Health Systems, Inc. Third Amended and Restated Stock Unit Deferred Compensation Plan. Of the Common Stock Units reported, 85 are subject to forfeiture and vest on 6/24/2007. Upon distribution, the reporting person receives shares of PacifiCare Common Stock equal to the number of vested Common Stock Units held. The Common Stock Units will be distributed on the earlier of (i) the date, after 12/31/07, specified in the election made by the reporting person or (ii) the reporting person's termination of employment, death, disability or change of control of the Company. The Common Stock Units will be distributed in a lump sum or equal installments over 3 to 5 years as specified in the election made by the reporting person, except for distributions upon a change of control which will be made in one lump sum.