MALONE DOUGLAS J 4
4 · HARDINGE INC · Filed May 30, 2018
Insider Transaction Report
Form 4
HARDINGE INCHDNG
MALONE DOUGLAS J
Corporate Controller
Transactions
- Disposition to Issuer
Common Stock
2018-05-25$18.50/sh−18,771$347,264→ 0 total - Disposition to Issuer
Stock Option (Right to Buy)
2018-05-25$6.40/sh−15,000$96,000→ 0 totalExercise: $12.10Exp: 2027-07-30→ Common Stock (15,000 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2018-05-25$6.40/sh−15,000$96,000→ 0 totalExercise: $12.10Exp: 2027-07-30→ Common Stock (15,000 underlying) - Award
Common Stock
2018-05-25+6,350→ 18,771 total
Footnotes (4)
- [F1]Shares reported as acquired are performance shares which were to vest upon the completion of certain milestones associated with the economic performance of the issuer. On May 25, 2018, the reporting person became the beneficial owner of the shares upon their vesting 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]Shares disposed of for cash consideration pursuant to the Merger Agreement.
- [F3]On July 31, 2017, the reporting person was granted an option to purchase 15,000 shares of Hardinge Inc. common stock, which option was to vest in two (2) equal annual installments beginning July 31, 2019. On May 25, 2018, the option was cancelled pursuant to the Merger Agreement, whereupon the reporting person received a cash payment of $96,000, 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.
- [F4]On July 31, 2017, the reporting person was granted an option to purchase 15,000 shares of Hardinge Inc. common stock, which option was to vest upon 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 $96,000, 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.