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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Phantom stock options (1) | $ 7.43 | 01/01/2008 | A | 25,236 | 01/01/2009(3) | 01/01/2015 | Common Stock | 25,236 | $ 0 | 25,236 | D | ||||
Phantom stock (1) | (2) | 01/01/2008 | A | 10,094 | 01/01/2009(4) | 01/01/2013 | Common Stock | 10,094 | $ 0 | 10,094 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
DOUGLAS MICHAEL R 1000 ABERNATHY ROAD SUITE 1200 ATLANTA, GA 30328 |
EVP Special Counsel |
/s/ Michael R. Douglas | 01/09/2008 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Phantom stock and phantom stock options are automatic grants pursuant to the terms of Mr. Douglas' employment letter dated May 1, 2007. |
(2) | Each share of phantom stock is the economic equivalent of one share of Beazer common stock |
(3) | Phantom stock options vest over three years with 33.3% vesting on the first anniversary of the grant. The remaining 66.7% will vest in 8.33% increments each quarter over the following 8 quarters on the first day of each quarter. Any vested portion will be settled in cash upon exercise. |
(4) | Phantom stock vests over five years with 20% vesting on the first anniversary of the grant. The remaining 80% will vest in 5% increments each quarter over the following 16 quarters on the first day of each quarter. Any vested portion will be settled in cash. |