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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
NON-QUALIFIED STOCK OPTION (RIGHT TO BUY) | $ 7.5 | 05/11/2006 | A | 75,000 (2) | (3) | (3) | COMMON STOCK | 75,000 | $ 0 | 75,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
JENSEN GEORGE R JR 517 LEGION ROAD WEST CHESTER, PA 19382 |
X | CHIEF EXECUTIVE OFFICER |
/S/ GEORGE R. JENSEN, JR. | 05/11/2006 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | OF THE TOTAL OF 97,080 SHARES ISSUED (i) 75,000 VEST AS FOLLOWS: 25,000 ON 6/1/06; 25,000 ON 1/1/07; AND 25,000 ON 6/1/07; AND (ii) 22,080 SHARES VEST AS FOLLOWS: 5,520 ON 7/1/06; 5,520 ON 10/1/06; 5,520 ON 1/1/07; AND 5,520 ON 4/1/07. THESE 22,080 SHARES ARE BEING ISSUED TO MR. GEORGE R. JENSEN, JR. FOLLOWING MR. JENSEN'S ELECTION TO RECEIVE SHARES OF COMMON STOCK IN LIEU OF CASH FOR ONE-HALF OFHIS BASE SALARY FOR THE FISCAL YEAR ENDING 6/30/07. |
(2) | THE OPTIONS TO PURCHASE UP TO 75,000 SHARES OF COMMON STOCK VEST AS FOLLOWS: 25,000 ON 5/11/06; 25,000 ON 6/30/07; AND 25,000 ON 6/30/08. |
(3) | THE OPTIONS MAY BE EXERCISED AT ANY TIME WITHIN 5 YEARS OF VESTING. |