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HSY » Topics » Treatment of RSUs upon Retirement, Death or Disability

This excerpt taken from the HSY DEF 14A filed Mar 16, 2009.

Treatment of RSUs upon Retirement, Death or Disability

Upon retirement any RSUs that are not vested are forfeited.

A prorated portion of any unvested RSU award vests upon death or disability. The prorated number of RSUs is based upon the number of full and partial calendar months from the grant date to the date of death or disability divided by the number of full and partial calendar months from the grant date to the end of the restriction period multiplied by the number of RSUs originally granted. The following table summarizes the unvested RSU awards that would have vested on December 31, 2008 if the executive’s employment terminated that day due to death or disability.

 

Name   Restricted Stock Units
 

Number(1)

(#)

  

Value(2)

($)

D. J. West

          0              0

H. P. Alfonso

   6,749   234,460

J. P. Bilbrey

   5,435   188,812

B. H. Snyder

   2,957   102,726

M. G. Buck

  4,879   169,496

 

 

 

(1) Prorated number of unvested RSUs as of December 31, 2008.

 

(2) Value of shares based on $34.74 closing price for our Common Stock on December 31, 2008.
This excerpt taken from the HSY DEF 14A filed Mar 10, 2008.

Treatment of RSUs upon Retirement, Death or Disability

Upon retirement any RSUs that are not vested are forfeited.

A prorated portion of any unvested RSU award vests upon death or disability. The prorated number of RSUs is based upon the number of days from the grant date to the date of death or disability divided by the number of days in the vesting period multiplied by the number of unvested RSUs. The following table summarizes the unvested RSU awards that would have vested on December 31, 2007 if the executive’s employment terminated that day due to death or disability.

 

Name    Restricted Stock Units
  

    Number(1)    

(#)

   

    Value(2)    

($)

D. J. West

        22,000(3)    866,800

H. P. Alfonso

      7,526    296,524

J. P. Bilbrey

      1,748      68,871

B. H. Snyder

        697      27,462

 

 

 

(1) Prorated number of unvested RSUs as of December 31, 2007.

 

(2) Value of shares based on $39.40 closing price for our Common Stock on December 31, 2007.

 

(3) Mr. West’s employment agreement provides for full vesting of the 22,000 RSUs awarded October 2, 2007, in the event of his death or disability.
This excerpt taken from the HSY DEF 14A filed Mar 16, 2007.

Treatment of RSUs upon Retirement, Death or Disability

Upon retirement any RSUs that are not vested are forfeited.

A prorated portion of any unvested RSUs vests upon death or disability. The prorated number of RSUs is based upon the number of months since the grant date and the date of death or disability divided by the number of months in the vesting period multiplied by the number of unvested RSUs. The following table summarizes the unvested RSU awards that would have vested on December 31, 2006 if the executive’s employment terminated that day due to death or disability.

 

Name    Restricted Stock Units  
  

Number(1)

(#)

    

Value(2)

($)

  

R. H. Lenny

    —        —     

D. J. West

    —     —  

M. K. Arline

    1,312     65,338  

J. P. Bilbrey

    1,312     65,338  

T. K. Hernquist

    5,040     250,992  

 

 

(1) Prorated number of unvested RSUs as of December 31, 2006.

 

(2) Value of shares based on $49.80 stock value on December 31, 2006.

EXCERPTS ON THIS PAGE:

DEF 14A
Mar 16, 2009
DEF 14A
Mar 10, 2008
DEF 14A
Mar 16, 2007

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