NORSTAN INC 4
4 · NORSTAN INC · Filed Jan 27, 2005
Insider Transaction Report
Form 4
NORSTAN INCNRRD
NORSTAN INC
Director
Transactions
- Disposition to Issuer
Stock Option (Right to Buy)
2005-01-25−35,000→ 0 total→ Common Stock (35,000 underlying)
Holdings
- 0
Common Stock
Footnotes (2)
- [F1]These options expire ten years from the date of grant except the option dated 9/15/2004 which expires seven years from the date of grant.
- [F2]These options were canceled pursuant to the Agreement and Plan of Merger dated as of December 20, 2004 between Black Box Corporation and Norstan, Inc. in exchange for a cash payment of $92,075 which represents the difference between the various exercise prices of the options and the $5.60 per share tender offer price paid by Black Box Corporation pursuant to the Tender Offer. These options were: 1) On 3/20/2003, 20,000 shares were granted at $2.80 vesting 35% at grant, 35% on 3/20/2004 and the remaining on 3/20/2005; 2) On 9/18/2003, 7,500 shares were granted at $3.25 vesting upon grant; and 3) On 9/15/2004, 7,500 shares were granted at $3.14 vesting upon grant.