MIDD » Topics » Option Exercises and Stock Vested for the Fiscal Year Ended December 29, 2007

This excerpt taken from the MIDD DEF 14A filed Mar 28, 2008.

Option Exercises and Stock Vested for the Fiscal Year Ended December 29, 2007

The following table sets forth the aggregate amounts received or realized in connection with the exercise of stock options and vesting of stock awards under the 1998 Stock Incentive Plan and 2007 Stock Incentive Plan during the fiscal year ended December 29, 2007 by each of the Named Executive Officers. Options awarded under the plan become exercisable in accordance with the terms of the grant and generally have a ten year term.


Option Exercises and Stock Vested

 
  Option Awards
  Stock Awards
Name

  Number of Shares
Acquired on
Exercise (#)

  Value Realized
on Exercise ($)

  Number of Shares
Acquired on
Vesting (#)

  Value Realized
on Vesting ($)

Selim A. Bassoul   319,288 (1) $ 19,900,997   120,000 (2) $ 9,194,400
Timothy J. FitzGerald   60,008 (3) $ 3,630,755   20,000 (4) $ 1,532,400
Magdy Albert   17,000 (5) $ 880,185      
Mark Sieron   10,250 (6) $ 480,730      
Gary Mick   14,200 (7) $ 575,527      

(1)
Exercised option details for Mr. Bassoul are as follows:

Exercise of 95,000 shares on May 1, 2007 comprising part of a total grant of 400,000 shares granted on February 26, 2002 at a strike price of $2.95.

Exercise of 98,288 shares on September 7, 2007 and 1,712 shares on December 4, 2007 comprising the total grant of 100,000 shares granted on October 23, 2003 at a strike price of $9.235.

Exercise of 58,288 shares on December 4, 2007 and 66,000 shares on December 7, 2007 comprising part of a total grant of 250,000 shares granted on October 23, 2003 at a strike price of $9.235.

(2)
On January 5, 2005 Mr. Bassoul was awarded 200,000 shares of restricted stock. Of this amount 20,000 shares vested on December 31, 2006 and 120,000 shares vested on December 31, 2007.

(3)
Exercised option details for Mr. FitzGerald are as follows:

Exercise of 12,000 shares on May 8, 2007 comprising part of a total grant of 20,000 shares granted on February 26, 2002 at a strike price of $2.95.

Exercise of 8,000 shares on May 8, 2007 comprising part of a total grant of 10,000 shares granted on March 5, 2003 at a strike price of $5.255.

Exercise of 10,200 shares on May 25, 2007, 18,904 shares on September 4, 2007 and 10,904 shares on December 3, 2007 comprising the part of a total grant of 70,000 shares granted on October 23, 2003 at a strike price of $9.235.

(4)
On March 7, 2005 Mr. FitzGerald was awarded 100,000 shares of restricted stock. If Mr. FitzGerald remains employed by the Company on the respective vesting dates, the restricted stock grant will vest in 20% on December 31 of each year, commencing on December 31, 2005. Dividends on all restricted stock (to the extent declared by the Company) will be payable to Mr. FitzGerald in cash.

(5)
Exercised option details for Mr. Albert are as follows:

Exercise of 7,000 shares on August 10, 2007 comprising part of a total grant of 10,000 shares granted on October 23, 2003 at a strike price of $9.235.

22


    Exercise of 10,000 shares on August 10, 2007 comprising part of a total grant of 20,000 shares granted on February 28, 2005 at a strike price of $26.965.

(6)
Exercised option details for Mr. Sieron are as follows:

Exercise of 4,000 shares on May 15, 2007 comprising part of a total grant of 20,000 shares granted on February 26, 2002, at a strike price of $2.95.

Exercise of 1,200 shares on May 15, 2007 comprising part of a total grant of 6,000 shares granted on March 5, 2003, at a strike price of $5.255.

Exercise of 5,250 shares on May 15, 2007 comprising part of a total grant of 50,000 shares granted on February 26, 2002 at a strike price of $26.965.

(7)
Exercised option details for Mr. Mick are as follows:

Exercise of 1,200 shares on March 8, 2007 comprising part of a total grant of 6,000 shares granted on March 5, 2003, at a strike price of $5.255.

Exercise of 3,000 shares on March 8, 2007 comprising part of a total grant of 10,000 shares granted on October 23, 2003 at a strike price of $9.235.

Exercise of 5,000 shares on March 2, 2007 and 5,000 shares on November 15, 2007 comprising part of a total grant of 20,000 shares granted on February 28, 2005 at a strike price of $26.965.

"Option Exercises and Stock Vested for the Fiscal Year Ended December 29, 2007" elsewhere:

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