FURMANITE CORP 4
4 · FURMANITE CORP · Filed Mar 2, 2016
Insider Transaction Report
Form 4
Milliron Joseph Ellsworth
President and COO
Transactions
- Disposition to Issuer
Common stock
2016-02-29−318,311→ 0 total - Disposition to Issuer
Options to buy common stock
2016-02-29−21,374→ 0 totalExercise: $6.89From: 2014-05-09Exp: 2016-04-29→ Common stock (21,374 underlying) - Disposition to Issuer
Options to buy common stock
2016-02-29−16,105→ 0 totalExercise: $10.85From: 2015-05-13Exp: 2016-04-29→ Common stock (16,105 underlying) - Disposition to Issuer
Options to buy common stock
2016-02-29−125,000→ 0 totalExercise: $7.61From: 2015-12-23Exp: 2016-04-29→ Common stock (125,000 underlying)
Footnotes (5)
- [F1]Pursuant to the terms of the Agreement and Plan of Merger, dated November 1, 2015, by and among Furmanite Corporation, Team, Inc. and TFA, Inc. (the "Merger Agreement"), upon consummation of the merger as contemplated by the Merger Agreement, each share of Furmanite Corporation common stock was converted into the right to receive 0.215 shares of Team, Inc. common stock, with cash paid for any fractional shares.
- [F2]Original vesting schedule was 1/4 annually beginning December 23, 2015. However, all options became fully vested and exercisable upon the Reporting Person's retirement on November 1, 2015 pursuant to the terms of a Separation Agreement between the Reporting Person and Furmanite Corporation.
- [F3]Original vesting schedule was 1/3 annually beginning May 9, 2014. However, all options became fully vested and exercisable upon the Reporting Person's retirement on November 1, 2015 pursuant to the terms of a Separation Agreement between the Reporting Person and Furmanite Corporation.
- [F4]Upon consummation of the merger as contemplated by the Merger Agreement, each option to buy shares of Furmanite Corporation common stock was converted into 0.215 options to buy shares of Team, Inc. common stock, rounded down to the nearest whole option. The exercise price was converted by dividing the stated exercise price of the Furmanite Corporation option by 0.215, rounded up to the nearest whole cent.
- [F5]Original vesting schedule was 1/3 annually beginning May 13, 2015. However, all options became fully vested and exercisable upon the Reporting Person's retirement on November 1, 2015 pursuant to the terms of a Separation Agreement between the Reporting Person and Furmanite Corporation.