-----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, RZ4ywGWBOzwhU72klnhWf+TY8bQ4eeIdF2BKYeTIl4Sx96abdrkbAgjIKq2TUTu0 bqaBUbzgjOwk9W44Rxi/rg== 0001209191-07-000375.txt : 20070103 0001209191-07-000375.hdr.sgml : 20070101 20070103132432 ACCESSION NUMBER: 0001209191-07-000375 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20061215 FILED AS OF DATE: 20070103 DATE AS OF CHANGE: 20070103 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: KRUEGER ERNIE R CENTRAL INDEX KEY: 0001273911 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-20167 FILM NUMBER: 07502910 MAIL ADDRESS: STREET 1: C/O NORTH COUNTRY BANK STREET 2: 130 SOUTH CEDER STREET CITY: MANISTIQUE STATE: NY ZIP: 49686 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: MACKINAC FINANCIAL CORP /MI/ CENTRAL INDEX KEY: 0000036506 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 382062816 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 3530 NORTH COUNTRY DR STREET 2: PO BOX 369 CITY: TRAVERSE CITY STATE: MI ZIP: 49684 BUSINESS PHONE: 9063418401 MAIL ADDRESS: STREET 1: 130 S CEDER ST STREET 2: P O BOX 369 CITY: MANISTIQUE STATE: MI ZIP: 49854 FORMER COMPANY: FORMER CONFORMED NAME: NORTH COUNTRY FINANCIAL CORP DATE OF NAME CHANGE: 19990409 FORMER COMPANY: FORMER CONFORMED NAME: FIRST MANISTIQUE CORP DATE OF NAME CHANGE: 19920703 4 1 bde11188_01erk.xml MAIN DOCUMENT DESCRIPTION X0202 4 2006-12-15 0000036506 MACKINAC FINANCIAL CORP /MI/ MFNC 0001273911 KRUEGER ERNIE R C/O MACKINAC FINANCIAL CORPORATION 130 SOUTH CEDAR STREET MANISTIQUE MI 49868 0 1 0 0 Executive VP & CFO Stock Option (right to buy) 10.65 2006-12-15 4 A 0 2000 0 A 2006-12-15 2016-12-15 Common Stock 2000 4000 D As previously reported, on November 16, 2005, the reporting person was granted the option to purchase 10,000 shares of Common Stock. The option vests in 5 equal installments. The first installment vested immediately upon the date of grant resulting in vesting of the option as to 2,000 shares. The remaining option vests in equal annual installments based upon Mackinac Financial Corporation's satisfaction of certain performance criteria for each of the fiscal years ending 2006, 2007, 2008, and 2009. On December 15, 2006, the reporting person was granted an option to purchase 10,000 shares of common stock. The option vests in 5 equal installments. The first installment vested immediately upon the date of grant resulting in vesting of the option as to 2,000 shares. The remaining 80% of the original option becomes exercisable in 20% increments when the closing price of the Common Stock equals a specified multiple of the initial exercise prices for a period of 10 consecutive trading days as follows: 1.15 times after 12/15/07, 1.30 times after 12/15/08, 1.45 times after 12/15/09, and 1.45 times after 12/15/10. Ernie Krueger 2007-01-02 -----END PRIVACY-ENHANCED MESSAGE-----