CHEN BERNARD 4
4 · GBC BANCORP · Filed Oct 22, 2003
Insider Transaction Report
Form 4
GBC BANCORPGBCB
CHEN BERNARD
Director
Transactions
- Exercise/Conversion
Common Stock
2003-10-17+1,514→ 17,534 total - Exercise/Conversion
Stock Option
2003-10-17$29.50/sh−3,000$88,500→ 0 totalExercise: $29.50From: 2003-01-01Exp: 2011-12-31→ Common Stock (3,000 underlying)
Footnotes (4)
- [F1]Represents the number of shares acquried on "cashless" exercise of stock options immediately prior to the merger between GBC Bancorp and Cathay Bancorp, Inc. (the "Merger") in accordance with the formulas provided in the Agreement and Plan of Merger among General Bank, GBC Bancorp, Cathay Bank and Cathay Bancorp, Inc. (the "Merger Agreement").
- [F2]These securities were acquired at various option exercise prices indicated under Column 8 regarding derivative securities on page 2 of this form.
- [F3]By virtue of the Merger, each share beneficially owned by the Reporting Person following the reported transaction was converted to the right to receive the merger consideration (Cathay Bancorp stock and/or cash)in accordance with the terms of the Merger Agreement. The Merger became effective 10/20/03.
- [F4]In addition to the securities beneficially owned directly as reported hereinabove, the Reporting Person also indirectly owned (by Trust)244,526 shares of common stock following the reported transaction.