O'Leary Richard A. 4
4 · HARDINGE INC · Filed May 30, 2018
Insider Transaction Report
Form 4
HARDINGE INCHDNG
O'Leary Richard A.
Vice Pres. & Chief HR Officer
Transactions
- Disposition to Issuer
Stock Option (Right to Buy)
2018-05-25$3.10/sh−15,000$46,500→ 0 totalExercise: $15.40Exp: 2027-10-15→ Common Stock (15,000 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2018-05-25$3.10/sh−15,000$46,500→ 0 totalExercise: $15.40Exp: 2027-10-15→ Common Stock (15,000 underlying)
Footnotes (2)
- [F1]On October 16, 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 October 16, 2019. On May 25, 2018, the option was cancelled 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"). Upon cancellation of the option, the reporting person received a cash payment of $46,500, representing the difference between the market value of the underlying Hardinge Inc. common stock as of the date of cancellation ($18.50 per share) and the exercise price of the option.
- [F2]On October 16, 2017, the reporting person was granted an option to purchase 15,000 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 $46,500, 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.