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EASTERN CO — Director's Dealing 2010
Jun 17, 2010
33928_dirs_2010-06-17_10be5844-3fe3-44f9-a4b1-f25699a0fde9.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: EASTERN CO (EML)
CIK: 0000031107
Period of Report: 2010-06-15
Reporting Person: SULLIVAN JOHN L III (Vice President & CFO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2010-06-15 | Common Stock | F | 18750 | $14.25 | Disposed | 610 | Direct |
| 2010-06-15 | Common Stock | M | 30000 | $9.50 | Acquired | 30610 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2010-06-15 | Qualified employee stock option | $9.50 | M | 30000 | Disposed | 2000-07-19 | Common Stock (30000) | Direct |
| 2001-04-26 | Qualified employee stock option | $9.60 | A | 0 | Acquired | 2011-04-26 | Common Stock (22500) | Direct |
Footnotes
F1: 18,750 shares of previously acquired Eastern Company stock were surrendered to Eastern Treasury at the closing price on June 14, 2010 of $14.25 per share, for the purchase of stock options by Mr. Sullivan.
F2: 30,000 shares were exercised on June 15, 2010 at $9.50 per share by Mr. Sullivan. The original 7/19/2000 option was for 20,000 shares at $14.25 per share. 4,810 shares were vested on 1/1/2001; 7,017 shares were vested on 1/1/2002; 7,017 shares were vested on 1/1/2003 and the remaining 1,156 shares were vested on 1/1/2004. As a result of a 3-for-2 stock split effective 10/18/2006, this option is now 30,000 shares at $9.50 per share.
F3: The original 7/19/2000 option was for 20,000 shares at $14.25 per share. 4,810 shares were vested on 1/1/2001; 7,017 shares were vested on 1/1/2002; 7,017 shares were vested on 1/1/2003 and the remaining 1,156 shares were vested on 1/1/2004. As a result of a 3-for-2 stock split effective 10/18/2006, this option is now 30,000 shares at $9.50 per share. On June 15, 2010 30,000 shares were exercised at $9.50 per share, leaving a zero balance.
F4: The original 4/26/2001 option was for 15,000 shares at $14.40 per share. 5,800 shares were vested on 1/1/2004; 6,944 shares were vested on 1/1/2005; and the remaining 2,256 shares were vested on 1/1/2006. As a result of a 3-for-2 stock split effective 10/18/2006 this option is now for 22,500 shares at $9.60 per share.