1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security |
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
Time options (right to buy)
|
Â
(3)
|
02/08/2006 |
Common Stock
|
6,000
|
$
35
|
D
|
Â
|
Time options (right to buy)
|
Â
(4)
|
09/29/2008 |
Common Stock
|
6,000
|
$
17.06
|
D
|
Â
|
Time options (right to buy)
|
Â
(5)
|
12/31/2008 |
Common Stock
|
35,000
|
$
6.56
|
D
|
Â
|
* |
If the form is filed by more than one reporting person, see Instruction 5(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) |
On May 25, 2005, the Company granted 22,771 restricted shares, valued at the then current market price of $3.80 per share, subject to a two-year cliff vesting period. |
(2) |
On August 31, 2005, the Company granted 15,000 restricted shares, valued at the then current market price of $5.94 per share, under the Company's Long Term Incentive Plan, of which one-third will vest on August 31 of each of 2006, 2007, and 2008. |
(3) |
Of such options, 2,000 vested on August 28, 1997, and 4,000 vested on February 8, 2004. |
(4) |
Of such options, 2,000 vested on each of May 21, 1999, July 14, 1999, and September 29, 1999. |
(5) |
Such options will vest on July 31, 2008 or earlier on March 31, 2006 if certain cash flow performance targets are achieved in each of 2003, 2004 and 2005 under the Company's Long Term Incentive Plan. For each year that such targets are achieved, one-third of the options granted will vest on March 31, 2006. If not previously exercised, these options will expire on December 31, 2008. 11,666 of such options will vest on March 31, 2006. |