SiliconBeat

Last week, Silicon Image doled out 450,000 stock options divided among  four executive and, in an unconventional twist, vesting on the lion’s share of the awards won’t take place until the fourth year, according to a regulatory filing Tuesday.

Ten percent of the restricted stock will vest on the first anniversary of the awards, which were given out April 15. On the second anniversary, twenty percent of the awards will vest, while 30 percent vests on the third anniversary, with the final 40 percent vesting on the fourth anniversary.

Chief Financial Officer Harold Covert was given 150,000 shares, Chief Technology Officer Duane Northcutt was given 50,000, and Vice Presidents Sal Cobar and Peter Rado were each given 75,000.

“No shares will vest as to any of the grants, upon any of the vesting dates, unless the recipient continues to provide services to (Silicon Image) as of each vesting date.”

The phrase “provide services” provides a possible loophole whereby executives could conceivably convert their full-time jobs to consulting gigs and still receive the stock in the future, but nevertheless, these are stock awards focused on the long term.