February 2007 Stock Option Grants under Omnibus Stock Ownership and Long Term Incentive Plan

Contract Categories: Business Finance › Warrant Agreements
Summary

This document details stock option grants made on February 26, 2007, to three executive officers of the company under its Omnibus Stock Ownership and Long Term Incentive Plan. Each officer is granted the right to purchase a specified number of shares of common stock at an exercise price of $32.60 per share, with a 10-year term. The options vest in installments, either over two or three years, depending on the officer. The agreement outlines the number of shares, exercise price, vesting schedule, and term for each grant.

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EX-10.2 3 dex102.htm FEBRUARY 2007 STOCK OPTION GRANTS February 2007 Stock Option Grants

Exhibit 10.2

February 2007 Stock Option Grants

The following table lists the number of shares of our common stock for which a purchase option was granted on February 26, 2007, to each of our named executive officers pursuant to the terms of our Omnibus Stock Ownership and Long Term Incentive Plan, together with the exercise price, term and vesting schedule of each option.

 

Name and Title

   

Number

of Shares

   

Exercise

Price

Per Share

   

Option

Term

   

Vesting Schedule

Arthur H. Keeney III

President and Chief Executive Officer

    8,954    $ 32.60    10 years    Becomes exercisable as to one-third of the shares on February 26, 2008, and two-thirds of the shares on February 26, 2009

J. Dorson White

Executive Vice President and Chief Operating Officer

    4,952      32.60    10 years    Becomes exercisable as to one-third of the shares each February 26, beginning 02/26/2010

Gary M. Adams

Senior Vice President and Chief Financial Officer

    1,619      32.60    10 years    Becomes exercisable as to one-third of the shares each February 26, beginning 02/26/2010