Dougherty Charles P 4
4 · HARDINGE INC · Filed May 30, 2018
Insider Transaction Report
Form 4
HARDINGE INCHDNG
Dougherty Charles P
DirectorPresident and CEO
Transactions
- Disposition to Issuer
Common Stock
2018-05-25$18.50/sh−5,000$92,500→ 0 total - Disposition to Issuer
Stock Option (Right to Buy)
2018-05-25$6.46/sh−75,000$484,500→ 0 totalExercise: $12.04Exp: 2027-06-05→ Common Stock (75,000 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2018-05-25$6.46/sh−75,000$484,500→ 0 totalExercise: $12.04Exp: 2027-06-05→ Common Stock (75,000 underlying)
Footnotes (3)
- [F1]Shares disposed of for cash consideration pursuant to a certain Agreement and Plan of Merger, dated as of February 12, 2018, by and among Hardinge Holdings, LLC, Hardinge Merger Sub, Inc., and Hardinge Inc. (hereinafter referred to as the "Merger Agreement").
- [F2]On June 6, 2017, the reporting person was granted an option to purchase 75,000 shares of Hardinge Inc. common stock, which option was to vest in two (2) equal annual installments beginning June 6, 2019. On May 25, 2018, the option was cancelled pursuant to the Merger Agreement, whereupon the reporting person received a cash payment of $484,500, representing the difference between the market value of the underlying Hardinge Inc. common stock as of said date ($18.50 per share) and the exercise price of the option.
- [F3]On June 6, 2017, the reporting person was granted an option to purchase 75,000 shares of Hardinge Inc. common stock, which option was to vest upon the completion of certain milestones associated with the economic performance of the issuer over a three year period beginning on the grant date. On May 25, 2018, the option was cancelled pursuant to the Merger Agreement, whereupon the reporting person received a cash payment of $484,500, representing the difference between the market value of the underlying Hardinge Inc. common stock as of said date ($18.50 per share) and the exercise price of the option.