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UNTKD Unitek Global Services, Inc. (MM)

9.70
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Unitek Global Services, Inc. (MM) NASDAQ:UNTKD NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 9.70 0 01:00:00

- Statement of Changes in Beneficial Ownership (4)

14/01/2011 9:34pm

Edgar (US Regulatory)


FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Expires: February 28, 2011
Estimated average burden
hours per response...
0.5
                      
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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

MacDonald Dean Timothy
2. Issuer Name and Ticker or Trading Symbol

UniTek Global Services, Inc. [ UNTK ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

C/O UNITEK GLOBAL SERVICES, INC.,, 1777 SENTRY PARKWAY WEST
3. Date of Earliest Transaction (MM/DD/YYYY)

1/10/2011
(Street)

BLUE BELL, PA 19422
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy)   $56.00   1/10/2011     D         536   (1)     (2) 3/3/2019   Common Stock   536     (1) 0   D    
Stock Option (right to buy)   $9.42   1/10/2011     A      536   (1)        (2) 3/3/2019   Common Stock   536     (1) 536   D    
Stock Option (right to buy)   $56.00   1/10/2011     D         3930   (3)     (4) 3/3/2019   Common Stock   3930     (3) 0   D    
Restricted Stock Units (RSUs)     (5) 1/10/2011     A      2233         (6)   (6) Common Stock   2233     (3) 2233   D    

Explanation of Responses:
( 1)  On January 10, 2011, the issuer cancelled, pursuant to the issuer's option exchange program, stock options granted to the reporting person on March 3, 2009. In exchange for these cancelled stock options, the reporting person was granted 536 stock options on January 10, 2011 (the "Date of Grant").
( 2)  The stock options were fully vested as of the Date of Grant.
( 3)  On January 10, 2011, the issuer cancelled, pursuant to the issuer's option exchange program, stock options granted to the reporting person on March 3, 2009. In exchange for these cancelled stock options, the reporting person was granted 2,233 restricted stock units ("RSUs") on the Date of Grant.
( 4)  The stock options vest ratably over a five year period beginning on March 3, 2009. On January 10, 2011, the issuer cancelled, pursuant to the issuer's option exchange program, these stock options and in exchange, the reporting person received 2,233 RSUs on the Date of Grant.
( 5)  The RSUs represent the right to receive one share of the issuer's common stock for each vested RSU.
( 6)  The RSUs will vest in accordance with the following schedule: 20% are vested as of the Date of Grant, and the remaining 80% shall vest in 20% increments on each of July 1, 2011, July 1, 2012, July 1, 2013 and July 1, 2014; provided that the reporting person remains in continuous employment or service with the issuer on each applicable vesting date.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
MacDonald Dean Timothy
C/O UNITEK GLOBAL SERVICES, INC.,
1777 SENTRY PARKWAY WEST
BLUE BELL, PA 19422
X



Signatures
/s/ Kyle M. Hall, Attorney-in-fact 1/13/2011
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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.

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