GENENCOR INTERNATIONAL INC 4
4 · GENENCOR INTERNATIONAL INC · Filed Apr 22, 2005
Insider Transaction Report
Form 4
LAND RAYMOND J
Senior VP and CFO
Transactions
- Disposition from Tender
Common Stock, $.01 par value
2005-04-20$19.25/sh−12,151$233,907→ 0 total - Disposition from Tender
Common Stock, $.01 par value
2005-04-20$19.25/sh−280$5,390→ 0 total(indirect: By Spouse) - Disposition from Tender
Stock Option (Right to Buy)
2005-04-21−52,000→ 0 totalExercise: $14.52→ Common Stock, par value $.01 per share (52,000 underlying) - Disposition from Tender
Stock Option (Right to Buy)
2005-04-21−143,709→ 0 totalExercise: $10.77→ Common Stock, par value $.01 per share (143,709 underlying) - Disposition from Tender
Stock Option (Right to Buy)
2005-04-21−60,000→ 0 totalExercise: $16.23→ Common Stock, par value $.01 per share (60,000 underlying)
Footnotes (2)
- [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), these options will be cancelled and Mr. Land 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.