Section 16 Settlement Agreement

Answer: No. Rule 16b-6(b) would not be available to exclude the cash settlement of Phantom Stocks, as the presumed sale of the underlying shares, after exercising the phantom stocks, is outside the scope of Rule 16b-6(b). On the other hand, Rule 16b-6(b) is available every hour to exempt the counting of shares of phantom shares, since such a transaction involves only the exercise of a derivative security. [23 May 2007] While the above principles may seem simple, many questions arise due to their complexity in the application of the Section 16(a) reporting guidelines and the principles underlying Section 16(b) for OEE transactions. For example, some TRS provide for interim statements, for example. B quarterly, prior to the date of final settlement of the TRS.