The number of shares originally covered by the exercised option was 150,000 with an exercise price per share of $1.38. In connection with the issuer's initial public offering on October 4, 2005, a conditional dividend was issued which increased the number of shares covered by the option by 6,033 to 156,033, reducing the effective exercise price per share to $1.33.
This sale of common stock was effected persuant to a Rule 10b5-1 sales plan adopted by the reporting person on August 20, 2012.
Reporting person undertakes to provide upon request by the Securities and Exchange Commission, the issuer or a securityholder of the issuer detailed information regarding the price and number of shares sold within the range indicated.
Represents weighted average sale price. Actual sale prices ranged from $32.34 to $32.62.
Includes 6,750 restricted stock units awarded on January 27, 2011, of which vest 1/3 of the shares vest on February 15, 2014, and 1/3 of the shares that vested on each of February 15, 2012 and 2013, net of withholding.
Includes 6,700 restricted stock units awarded February 5, 2012,of which 1/3 vest on each of February 15, 2014 and 2015, and the 1/3 of the shares that vested on February 15, 2013, net of withholding.
Includes 6,000 restricted stock units awarded July 25, 2013, of which 1/3 of the shares vest on each of February 15, 2014, 2015 and 2016.
The option became exercisable as to 25% of the shares on July 6, 2005, and became exercisable as to 1/48th of the shares each full month thereafter.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.
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