Cluster of buys last year in June did not show particularly good timing. Sometimes stock ownership guidelines can dilute the meaningfulness of insider buying.
Stock Ownership Guidelines — Our executive officers and directors are subject to stock ownership guidelines, which also help promote longer-term perspectives and align the interests of our executive officers and directors with those of our stockholders. In 2010, we increased the stock ownership requirements for our executive officers and nonemployee directors to further emphasize this alignment of interests.
Stock Ownership Guidelines. To assist with the alignment of the interests of directors, executive officers and stockholders, we believe our directors and officers should have a significant financial stake in McDermott. To further that goal, we have adopted stock ownership guidelines requiring generally that our nonemployee directors and our officers at the level of vice president or above maintain a minimum ownership interest in McDermott. The stock ownership requirements are as follows:
| | | | | | Level | | Base Salary
or Annual
Retainer
Multiple | | CEO
| | | 5x | | Executive Officers directly reporting to CEO
| | | 3x | | Other Elected Vice Presidents
| | | 2x | | Nonemployee Directors
| | | 5x | |
Jun 6 2012
|
Jun 6 2012
| MDR | McDermott International Inc | Johnson Stephen Marcum | President, CEO | 102,368 | Purchase at $9.64 | $986,613 |
Jun 6 2012
|
Jun 6 2012
| MDR | McDermott International Inc | Hinrichs Liane K | SrVP, Gen.Counsel, Corp. Sec. | 15,000 | Purchase at $9.60 | $144,035 |
Jun 6 2012
|
Jun 6 2012
| MDR | McDermott International Inc | McWilliams D Bradley | Director | 10,000 | Purchase at $9.59 | $95,859 |
Jun 6 2012
|
Jun 5 2012
| MDR | McDermott International Inc | Bookout John F III | Director | 150,000 | Purchase at $9.33 | $1,399,485 | |
