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OZM » Topics » Grants of Och-Ziff Operating Group A Units

This excerpt taken from the OZM DEF 14A filed Apr 9, 2009.

Grants of Och-Ziff Operating Group A Units

Pursuant to our Operating Agreement and related agreements, as a result of the departure of a partner from the Och-Ziff Operating Group in December 2008, each of our partners was allocated his pro-rata share of the departing partner’s unvested Och-Ziff Operating Group A Units, including each of our Named Executive Officers as noted in the table below. These units will vest annually over the remaining five-year period from the date of our initial public offering in November 2007. The amounts shown in the last column of the table do not reflect compensation actually received by the Named Executive Officers but instead represent the fair value of the award on the grant date, which will be amortized by us in our consolidated and combined financial statements pursuant to SFAS No. 123(R) over the remaining vesting period.

 

Name

    Grant Date(1)    All Other
Stock Awards:
Number of
Shares of
Stock or Units		    Grant Date
Fair Value of
Stock and
Option
Awards(1)

Daniel Och

    12/30/2008    1,944,335    $ 9,586,544

David Windreich

    12/30/2008    449,845    $ 2,217,961

Joel Frank

    12/30/2008    86,151    $ 424,768

Michael Cohen

    12/30/2008    269,138    $ 1,326,985

Zoltan Varga

    12/30/2008    162,300    $ 800,220

 

(1) Represents the aggregate grant date fair value of Och-Ziff Operating Group A Units received in 2008, computed in accordance with SFAS 123(R). The fair value of these awards based on the closing price of our Class A Shares on December 30, 2008, less a 5% discount for transfer restrictions that remain in place after vesting, or $4.9305 per Och-Ziff Operating Group A Unit.

 

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