GENENCOR INTERNATIONAL INC 4
4 · GENENCOR INTERNATIONAL INC · Filed Apr 22, 2005
Insider Transaction Report
Form 4
ARBIGE MICHAEL V
Sr. VP - Technology
Transactions
- Disposition from Tender
Common Stock, $.01 par value
2005-04-20$19.25/sh−550$10,588→ 0 total(indirect: By Daughter) - Disposition from Tender
Common Stock, $.01 par value
2005-04-21$19.25/sh−8,500$163,625→ 0 total - Disposition from Tender
Stock Option (Right to Buy)
2005-04-21−50,000→ 0 totalExercise: $16.23→ Common Stock, par value $.01 per share (50,000 underlying) - Disposition from Tender
Common Stock, $.01 par value
2005-04-21$19.25/sh−1,100$21,175→ 0 total(indirect: By Spouse) - Disposition from Tender
Stock Option (Right to Buy)
2005-04-21−195,934→ 0 totalExercise: $10.77→ Common Stock, par value $.01 per share (195,934 underlying) - Disposition from Tender
Common Stock, $.01 par value
2005-04-20$19.25/sh−22,116$425,733→ 0 total - Disposition from Tender
Stock Option (Right to Buy)
2005-04-21−55,000→ 0 totalExercise: $14.52→ Common Stock, par value $.01 per share (55,000 underlying)
Footnotes (4)
- [F1]On 1/27/05, Genencor International, Inc. (the "Company"), Danisco A/S ("Danisco") and DH Subsidiary Inc., an indirect wholly-owned subsidiary of Danisco ("Acquisition Sub") entered into an Acquisition Agreement (the "Acquisition Agreement") providing for a cash tender offer to acquire all of the outstanding shares of common stock of the Company not otherwise owned by Danisco or its subsidiaries for $19.25 per share, to be followed by a merger of Acquisition Sub with and into the Company, with the Company to continue as the surviving corporation. These shares were accepted in the closing of the tender offer on 4/20/05.
- [F2]Pursuant to the terms of the Acquisition Agreement, as of the effective time of the merger (5:00 PM EST on 4/21/05) (the "Effective Time of the Merger"), these restricted stock units will be cancelled and Dr. Arbige will be entitled to receive a cash payment in an amount equal to the number of restricted stock units credited to his account immediately before the Effective Time of the Merger multiplied by $19.25.
- [F3]Pursuant to the terms of the Acquisition Agreement, as of the Effective Time of the Merger, these shares will be converted into the right to receive a cash payment in an amount equal to $19.25 per share.
- [F4]Pursuant to the terms of the Acquisition Agreement, as of the Effective Time of the Merger, these options will be cancelled and Dr. Arbige will be entitled to receive a cash payment in an amount equal to the difference between $19.25 (for options issued under the Company's Stock Option and Stock Appreciation Right Plan) or $19.27 (for options issued under the Company's 2002 Omnibus Incentive Plan) and the exercise price per share under the option multiplied by the number of shares covered by the option.