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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 |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
YOUNG RODNEY A 350 OAK GROVE PARKWAY SAINT PAUL, MN 55127 |
X | Chief Executive Officer |
Getey M. Ritchott, Attorney-in-Fact for Rodney A. Young | 08/31/2010 | |
**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) | The Reporting Person was granted a restricted stock grant of 26,667 shares on August 28, 2008. One-third of the shares vest on the first, second and third anniversaries of the date of grant. Therefore 8,889 shares vested on August 28, 2010. The Reporting Person is required to pay the tax withholding obligation associated with the vesting of the shares, the Issuer's Board of Directors expressing authorized share withholding for the payment of this obligation, and the Reporting Person has elected share withholding for the payment of this obligation. Therefore, the Issuer withheld for tax obligations 2,907 shares of the 8,889 shares otherwise issuable. |
(2) | This Form 4 reports (i) the disposition of these 2,907 shares by the Reporting Person to the Issuer to pay the tax liability associated with the vesting and (ii) the net increase in the Reporting Person's ownership of 5,982 shares. The price of $4.22 is equal to fair market value on the date of vesting and is used to determine both the value of the shares that vest and the value of the shares withheld. |