Sec Form 4 Filing - BUTKOVSKY JEFF @ Cinedigm Digital Cinema Corp. - 2010-06-11

Insider filing report for Changes in Beneficial Ownership
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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
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(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
BUTKOVSKY JEFF
2. Issuer Name and Ticker or Trading Symbol
Cinedigm Digital Cinema Corp. [ CIDM]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Senior VP, Chief Tech Officer
(Last) (First) (Middle)
C/O CINEDIGM DIGITAL CINEMA CORP., 55 MADISON AVENUE, SUITE 300
3. Date of Earliest Transaction (MM/DD/YY)
06/11/2010
(Street)
MORRISTOWN, NJ07960
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction 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
Class A Common Stock 18,000 ( 1 ) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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) $ 12.5 ( 2 ) 10/30/2010 Class A Common Stock 5,000 5,000 D
Stock Option (Right to buy) $ 5 ( 3 ) 02/28/2012 Class A Common Stock 10,000 10,000 D
Stock Option (Right to buy) $ 7.5 ( 4 ) 07/12/2012 Class A Common Stock 10,000 10,000 D
Stock Option (Right to buy) $ 2.5 ( 5 ) 12/18/2012 Class A Common Stock 10,000 10,000 D
Stock Option (Right to buy) $ 5 ( 6 ) 11/04/2013 Class A Common Stock 30,000 30,000 D
Stock Option (Right to buy) $ 3.6 12/01/2005 01/13/2015 Class A Common Stock 45,000 45,000 D
Stock Option (Right to buy) $ 10.25 09/14/2006 03/08/2016 Class A Common Stock 10,000 10,000 D
Stock Option (Right to buy) $ 5.16 ( 7 ) 10/18/2017 Class A Common Stock 10,000 10,000 D
Stock Option (Right to buy) $ 1.37 08/11/2009 08/11/2019 Class A Common Stock 40,000 40,000 D
Stock Option (Right to buy) $ 1.37 10/21/2009( 8 ) 10/21/2019 Class A Common Stock 85,000 85,000 D
Stock Option (Right to buy) $ 1.4 06/11/2010 A 41,577 ( 9 ) 06/11/2020 Class A Common Stock 41,577 $ 0 41,577 D
Restricted Stock Units ( 10 ) 05/09/2011( 11 ) ( 11 ) Class A Common Stock 75,000 75,000 D
Restricted Stock Units ( 10 ) 04/23/2012( 12 ) ( 12 ) Class A Common Stock 25,000 25,000 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
BUTKOVSKY JEFF
C/O CINEDIGM DIGITAL CINEMA CORP.
55 MADISON AVENUE, SUITE 300
MORRISTOWN, NJ07960
Senior VP, Chief Tech Officer
Signatures
/s/ Jeff Butkovsky 06/15/2010
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Includes 3,000 restricted Class A Common shares granted on September 20, 2007, pursuant to the Issuer's Second Amended and Restated 2000 Equity Incentive Plan. Such restricted shares vest in three equal annual installments commencing September 20, 2008.
( 2 )The option vested in three equal annual installments commencing October 30, 2001.
( 3 )The option vested in three equal annual installments commencing February 28, 2003.
( 4 )The option vested in three equal annual installments commencing July 12, 2003.
( 5 )The option vested in three equal annual installments commencing December 18, 2003.
( 6 )Of such options, one-third vested on November 4 of each of 2004 and 2005 and the remaining vested on September 14, 2006.
( 7 )The option vests in three equal annual installments commencing October 18, 2008.
( 8 )Vesting may accelerate as follows: (a) On 10/21/10, 1/3 of the Options will vest if the Class A Common Stock ("Common Stock") has traded at $2.75 or more for at least 10 consecutive trading days (a "10-day period") during the year ending on such date; 2/3 of the Options will vest if the Common Stock has traded at $3.75 or more for a 10-day period during the year ending on such date; or all of the unvested Options will vest if the Common Stock has traded at $5.00 or more for a 10-day period during the year ending on such date; and (b) on 10/21/11, 1/3 of the unvested Options will vest if the Common Stock has traded at $2.75 or more for a 10-day period during the two years ending on such date; 2/3 of the unvested Options will vest if the Common Stock has traded at $3.75 or more for a 10-day period during the two years ending on such date; or all of the unvested Options will vest if the Common Stock has traded at $5.00 or more for a 10-day period during the year ending on such date.
( 9 )The option vests in three equal annual installments commencing June 11, 2011.
( 10 )Each restricted stock unit (an "RSU") represents a contingent right to receive one share of Common Stock; however, the Issuer has the discretion to settle in Common Stock or cash or a combination thereof.
( 11 )Vesting may accelerate as follows: (a) On 5/9/09, 1/3 of the RSUs will vest if the Common Stock has traded at $7.00 or more for at least 10 consecutive trading days (a "10-day period") during the year ending on such date; 2/3 of the RSUs will vest if the Common Stock has traded at $9.50 or more for a 10-day period during the year ending on such date; or all of the unvested RSUs will vest if the Common Stock has traded at $12.00 or more for a 10-day period during the year ending on such date; and (b) On 5/9/10, 1/3 of the unvested RSUs will vest if the Common Stock has traded at $7.00 or more for a 10-day period during the two years ending on such date; 2/3 of the unvested RSUs will vest if the Common Stock has traded at $9.50 or more for a 10-day period during the two years ending on such date; or all of the unvested RSUs will vest if the Common Stock has traded at $12.00 or more for a 10-day period during the year ending on such date.
( 12 )Vesting may accelerate as follows: (a) On 4/23/10, 1/3 of the RSUs will vest if the Common Stock has traded at $7.00 or more for at least 10 consecutive trading days (a "10-day period") during the year ending on such date; 2/3 of the RSUs will vest if the Common Stock has traded at $9.50 or more for a 10-day period during the year ending on such date; or all of the unvested RSUs will vest if the Common Stock has traded at $12.00 or more for a 10-day period during the year ending on such date; and (b) On 4/23/11, 1/3 of the unvested RSUs will vest if the Common Stock has traded at $7.00 or more for a 10-day period during the two years ending on such date; 2/3 of the unvested RSUs will vest if the Common Stock has traded at $9.50 or more for a 10-day period during the two years ending on such date; or all of the unvested RSUs will vest if the Common Stock has traded at $12.00 or more for a 10-day period during the year ending on such date.

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