UIL » Topics » Option Exercises And Stock Vested

This excerpt taken from the UIL DEF 14A filed Apr 5, 2007.

Option Exercises And Stock Vested


     Options Awards    Stock Awards



Number of Shares
Acquired on



Value Realized on



Number of Shares
Acquired on Vesting



Value Realized on



   (b)    (c)    (d)    (e)

Nathaniel D. Woodson

   455,160    $ 5,663,332    76,700    $ 2,961,387

James P. Torgerson


Richard J. Nicholas

   13,583      127,898    16,989      655,945

Richard J. Reed

   16,666      164,884    4,900      189,189

Susan E. Allen

   8,333      95,269    1,907      73,629

Anthony J. Vallillo

   63,349      645,199    16,415      633,783

Louis J. Paglia

   33,333      31,333      


The value realized equals the difference between the option exercise price and the fair market value of the Company’s stock on the date of exercise, multiplied by the number of shares for which the option was exercised.


Value realized on vesting is determined based on $38.61, the fair market value of the performance shares on February 26, 2007, the date performance was determined and shares were awarded. Mr. Nicholas deferred receipt of the 90% of the shares associated with the payment of his 16,989 performance shares in accordance with the terms of the Company’s Deferred Compensation Plan.

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