VERAMARK TECHNOLOGIES INC 4
4 · VERAMARK TECHNOLOGIES INC · Filed Jul 25, 2013
Insider Transaction Report
Form 4
Bouk Joshua B
Vice President
Transactions
- Disposition from Tender
VERA Common Stock
2013-07-16$1.18/sh−82,600$97,468→ 0 total - Disposition to Issuer
VERA Option Right to Purchase
2013-07-22−50,000→ 0 totalExercise: $0.71→ VERA Common Stock (50,000 underlying)
Footnotes (2)
- [F1]On 6/11/13, Veramark Technologies, Inc. (the "Company"), Hubspoke Holdings, Inc. ("Hubspoke") and TEM Holdings, Inc., a wholly-owned subsidiary of Hubspoke ("Merger Sub") entered into an Agreement and Plan of Merger (the "Merger Agreement") providing for a cash tender offer to acquire all of the outstanding shares of common stock of the Company for $1.18 per share, to be followed by a merger of Merger Sub with and into the Company, with the Company to continue as the survivng corporation. These shares were accepted in connection with the tender offer on 7/16/13.
- [F2]Pursuant to the terms of the Merger Agreement, as of the effective time of the merger (7/22/13), this option was cancelled and Mr. Bouk became entitled to receive a cash payment in an amount equal to the difference between $1.18 and the exercise price per share under the option multiplied by the number of shares covered by the option.