1/3 of this restricted stock grant vests on each of the first three anniversaries of the transaction date provided that a threshold level of Company pre-tax income for 2014 is first achieved.
1/3 of this stock appreciation right becomes exercisable on each of the first three anniversaries of the transaction date. Appreciation is capped at $4.00 per stock appreciation right.
Payment of tax withholding relating to vesting o
f restricted stock.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.
To receive a free e-mail notification whenever Standard Pacific Corp makes a similar move, sign up!