Lizanne Galbreath, a director of Starwood Hotels & Resorts Worldwide, just received 277 restricted shares from the company. The restricted shares don't become available to Galbreath until such time as they become vested. Galbreath now owns at least 17,494 restricted shares of the company.
Some additional info was provided as follows:
Phantom stock is convertible into Common Stock on a one-for-one basis.
Pursuant to the Starwood Hotels & Resorts Worldwide, Inc. 2013 Long-Term Incentive Compensation Plan, directors' fees are accrued quarterly at the end of each quarter.
As per the terms of Reporting Person's Deferral Agreement, Phantom Stock will convert into Common Stock and will be distributed to the Reporting Person on January 15, 2018 or if earlier, in the fir
st quarter of the first calendar year following the calendar year in which Reporting Person ceases to be a director.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.
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