-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FGdUiGgPiXQebtB8oOOLh5Sjms24HkbLeoSUTRYTGVpl0yr4ZVCFbESttbtrDfcU xHPHPPKDgY1FViHV0ihh+A== 0001209191-06-014039.txt : 20060228 0001209191-06-014039.hdr.sgml : 20060228 20060228213016 ACCESSION NUMBER: 0001209191-06-014039 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060228 FILED AS OF DATE: 20060228 DATE AS OF CHANGE: 20060228 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: LIFE TIME FITNESS INC CENTRAL INDEX KEY: 0001076195 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MEMBERSHIP SPORTS & RECREATION CLUBS [7997] IRS NUMBER: 411689746 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 6442 CITY WEST PARKWAY STREET 2: STE 300 CITY: EDEN PRAIRIE STATE: MN ZIP: 55344 MAIL ADDRESS: STREET 1: 6442 CITY WEST PARKWAY STREET 2: STE 400 CITY: EDEN PRAIRIE STATE: MN ZIP: 55344 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Akradi Bahram CENTRAL INDEX KEY: 0001295679 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-32230 FILM NUMBER: 06652983 BUSINESS ADDRESS: BUSINESS PHONE: 952-947-000 MAIL ADDRESS: STREET 1: 6442 CITY WEST PARKWAY CITY: EDEN PRAIRIE STATE: MN ZIP: 55344 4 1 doc4.xml FORM 4 SUBMISSION X0202 4 2006-02-28 0 0001076195 LIFE TIME FITNESS INC LTM 0001295679 Akradi Bahram 6442 CITY WEST PARKWAY EDEN PRAIRIE MN 55344 1 1 1 0 Chairman, President and CEO Common Stock 2006-02-28 4 M 0 19500 18.50 A 4240500 D Common Stock 2006-02-28 4 S 0 18800 42.00 D 4221700 D Common Stock 2006-02-28 4 S 0 200 42.01 D 4221500 D Common Stock 2006-02-28 4 S 0 400 42.02 D 4221100 D Common Stock 2006-02-28 4 S 0 100 42.03 D 4221000 D Stock Option (right to buy) 18.50 2006-02-28 4 M 0 19500 D 2014-06-29 Common Stock 19500 182500 D The option exercise and stock sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 23, 2006. See attached Exhibit 99. Not applicable. /s/ Amy Seidel on behalf of Bahram Akradi 2006-02-28 EX-99.4_124877 2 attachment.txt EX-99 DOCUMENT The option vests as to 50% of the shares on each of June 29, 2010 and June 29, 2011, subject to accelerated market condition vesting. Under the market condition vesting provisions, 20% of the shares vested on May 25, 2005 because the public market price of the Common Stock closed at or above $25.00 for 90 consecutive calendar days and 20% of the shares vested on September 7, 2005 because the public market price of the Common Stock closed at or above $30.00 for 90 consecutive calendar days. In addition, under the original performance vesting terms of the option, 20% of the shares were to vest if the stock price closes at or above $35.00 for 90 consecutive calendar days, 20% of the shares were to vest if the stock price closes at or above $40.00 for 90 consecutive calendar days and 20% of the shares were to vest if the stock price closes at or above $45.00 for 90 consecutive calendar days. On December 16, 2005, the Compensation Committee of the Company's Board of Directors approved an amendment that reduced the number of consecutive days during which the price must close at or above $35.00, $40.00 and $45.00 from 90 to 60 consecutive days in order for each of the last three tranches (each equal to 20% of the original number of shares granted) to vest. Under the market condition vesting provisions, 20% of the shares vested on December 26, 2005 because the public market price of the Common Stock closed at or above $35.00 for 60 consecutive calendar days. -----END PRIVACY-ENHANCED MESSAGE-----