HOUSTON, Jan. 5, 2009 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE:CCI) reported that four of its executive officers filed Form 4s with the Securities and Exchange Commission on Monday, January 5, 2009 relating to the forfeiture of 200,103 shares of performance-based restricted stock awarded in the first quarter of 2007.
This restricted stock was granted to the officers in connection with the Global Signal acquisition and integration. In order to avoid forfeiture of the restricted stock, Crown Castle's common stock had to close at or above $44.50 per share for 20 consecutive trading days which included any date on or between July 1, 2008 and December 31, 2008. As a result of Crown Castle's stock not achieving this price threshold, these shares of restricted stock were forfeited by the officers on December 31, 2008 and returned to Crown Castle. The Form 4s filed by the four officers report a disposition to Crown Castle (as issuer) for $0.
Crown Castle engineers, deploys, owns and operates technologically advanced shared wireless infrastructure, including extensive networks of towers. Crown Castle offers significant wireless communications coverage to 91 of the top 100 U.S. markets and to substantially all of the Australian population. Crown Castle owns, operates and manages over 22,000 and over 1,600 wireless communication sites in the U.S. and Australia, respectively. For more information on Crown Castle, please visit http://www.crowncastle.com.
The Crown Castle International Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3063