FINANCIAL FEDERAL CORP 4
4 · FINANCIAL FEDERAL CORP · Filed Mar 1, 2005
Insider Transaction Report
Form 4
PALITZ MICHAEL C
Director
Transactions
- Other
Put Option (right to sell)
2005-02-25−33,333→ 66,667 total(indirect: By S-Corp)→ Common Stock (33,333 underlying) - Other
Common Stock
2005-02-25−30,758→ 128,072 total(indirect: By S-Corp)
Holdings
- 205,847
Common Stock
- 225(indirect: By Spouse)
Common Stock
Footnotes (1)
- [F1]On 3/21/02,the Reporting Person?s S-Corp entered into a forward sale agreement (with a third party) of 100,000 shares of the Issuer?s common stock providing for delivery of up to 33,333 shares on 2/25/05, 33,333 shares on 3/25/05 and 33,334 shares on 4/25/05 subject to the price of the stock on these dates as follows; (i) if the price is below $31.3831, the maximum number of shares would be sold, (ii) if the price is between $31.3831 and $47.0747, the number of shares sold would be the maximum multiplied by $31.3831 and then divided by the price or (iii) if the price exceeds $47.0747, the number of shares sold would be the maximum multiplied by the difference between the price and $15.6916 and then divided by the price. The S-Corp received a $2,458,870 non-refundable prepayment on 3/21/02. The Issuer?s share price on 2/25/05 was $34.01; therefore, 30,758 shares were sold by the S-Corp and 2,575 shares subject to the put option?s 2/25/05 settlement date were not sold.