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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 | ||||||||
Stock Option (right to buy) | $ 33.15 | 02/14/2006 | A | 37,000 | 02/14/2007(3) | 02/14/2016 | Common | 37,000 | $ 0 | 37,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
HORNBECK TODD M 103 NORTHPARK BOULEVARD SUITE 300 COVINGTON, LA 70433 |
X | Chairman, Pres., CEO, Sec. |
/s/ Paul M. Ordogne, as poa for Todd M. Hornbeck | 02/16/2006 | |
**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) | Restricted stock award subject to forfeiture based on the relative stock price performance of HOS and certain of its public peers for the 3-year period ending 2/14/2009. The above shares represent the maximum amount of shares that may be received by the reporting person under the bonus and forfeiture provisions of this long-term incentive grant. The actual amount of shares finally received will be calculated as a percentage of the "Base" amount (equal to 50% of the above amount) based on the relative performance ranking of HOS compared to its peers, as follows: (1) Top 20% = 200% of Base; (2) Top 33-1/3% = between 150% and 200% of Base; (3) Top 50% = between 100% and 150% of Base; (4) Top 66-2/3% = between 50% and 100% of Base; and (5) Bottom 33-1/3% = no shares. Within categories (2), (3) and (4), the appropriate bonus and forfeiture factors related to the Base amount will be interpolated on a straight-line basis between the two performance percentages. |
(2) | Represents shares beneficially owned by Reporting Person through various family trusts. |
(3) | The option provides for vesting in three equal annual installments commencing on 02/14/2007. |