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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 | ||||||||
Performance Shares | (1) | 02/27/2013 | A | 15,000 | (2) | (3) | Common Stock | 15,000 | $ 0 | 15,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Bajwa Najabat H. 4000 MACARTHUR BLVD., EAST TOWER NEWPORT BEACH, CA 92660 |
Senior Vice President |
/s/ Brandi R. Steege, Attorney-in-fact | 02/28/2013 | |
**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) | Each performance share represents a contingent right to receive one share of the Company's common stock. |
(2) | The performance shares become eligible to vest based on the achievement of certain minimum fair market values of the Company's common stock for twenty consecutive market trading days (the "Vesting Trigger Prices") and require the reporting person to continue as a service provider to the Company through the relevant vesting date (the "Service Period Requirement"). The performance shares vest as to 33.3% of the award, subject to a Service Period Requirement of one year following the grant date and a $6.00 Vesting Trigger Price. The performance shares vest as to 33.3% of the award, subject to a Service Period Requirement of two years following the grant date and an $8.00 Vesting Trigger Price. The performance shares vest as to 33.4% of the award, subject to a Service Period Requirement of three years following the grant date and a $10.00 Vesting Trigger Price. |
(3) | Performance shares that have not vested upon the end of the three year performance period will terminate. |