4//SEC Filing
FAIRPOINT COMMUNICATIONS INC 4
Accession 0000895813-17-000046
CIK 0001062613operating
Filed
Jul 5, 8:00 PM ET
Accepted
Jul 6, 3:37 PM ET
Size
15.7 KB
Accession
0000895813-17-000046
Insider Transaction Report
Form 4
METGE BRUCE F
EVP, Chief Legal Officer
Transactions
- Disposition to Issuer
Stock Options
2017-07-03−20,000→ 0 totalExercise: $14.16Exp: 2026-09-06→ Common Stock (20,000 underlying) - Tax Payment
Common Stock, par value $0.01 per share
2017-07-03−5,274→ 11,961 total - Disposition to Issuer
Common Stock, par value $0.01 per share
2017-07-03−11,961→ 0 total
Footnotes (3)
- [F1]Pursuant to an agreement and plan of merger (as amended, the "Merger Agreement") among FairPoint Communications, Inc. ("FairPoint"), Consolidated Communications Holdings, Inc. ("Consolidated") and Falcon Merger Sub, Inc., each of the Reporting Person's FairPoint restricted shares issued pursuant to The FairPoint Communications, Inc. Amended and Restated 2010 Long Term Incentive Plan, to the extent outstanding and subject to vesting or forfeiture conditions (whether time-based or performance-based), became fully vested or released from such forfeiture conditions as of the effective time of the merger. In connection with the merger, 5,274 FairPoint restricted shares were forfeited by the Reporting Person to satisfy applicable withholding tax obligations with respect to the vesting of restricted shares on such date. No consideration was received by the Reporting Person for the Reporting Person's forfeiture of the restricted shares.
- [F2]Disposed of pursuant to the Merger Agreement in exchange for 8,731 shares of Consolidated common stock having a market value of $21.47 per share on the last complete trading day prior to the effective date of the merger.
- [F3]This option, which provided for vesting in three equal installments beginning September 6, 2017, became fully vested in the merger and was automatically canceled in exchange for the right to receive 943 shares (net of shares surrendered for the payment of taxes) of Consolidated common stock (after taking into account the exercise price) having a market value of $21.47 per share on the last complete trading day prior to the effective date of the merger.
Issuer
FAIRPOINT COMMUNICATIONS INC
CIK 0001062613
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001062613
Filing Metadata
- Form type
- 4
- Filed
- Jul 5, 8:00 PM ET
- Accepted
- Jul 6, 3:37 PM ET
- Size
- 15.7 KB