The reporting person has received an exempt award of Deferred Stock Units ("DSUs") under the Company's 2008 Equity Incentive Award Plan, as amended from time to time. DSUs represent a right to receive shares of the Company's common stock upon termination of service as a Director of the Company. The reporting person has elected to receive DSUs in lieu of the annual retainer fees payable for services on the Company's Board of Directors and any committees thereof. The DSUs are awarded on the date such fees would otherwise be payable (i.e., quarterly in arrears), and the number of DSUs granted represent the quotient of (A) such fees divided by (B) the Company's closing stock price on the date of grant rounded up to the nearest whole DSU. The DSUs are immediately vested.
The reporting person and/or his spouse are trustees of trusts for their children. The reporting person disclaims beneficial ownership of such shares.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.
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