4//SEC Filing
CHECKPOINT SYSTEMS INC 4
Accession 0000899243-16-019923
CIK 0000215419operating
Filed
May 12, 8:00 PM ET
Accepted
May 13, 4:28 PM ET
Size
15.5 KB
Accession
0000899243-16-019923
Insider Transaction Report
Form 4
Rowland Bryan T.R.
VP,General Counsel &Secretary
Transactions
- Disposition to Issuer
Common Stock
2016-05-13−24,166→ 0 total - Disposition to Issuer
Stock Option (Right to Buy)
2016-05-13−8,000→ 0 totalExercise: $8.02Exp: 2022-08-31→ Common Stock (8,000 underlying) - Disposition to Issuer
Performance Rights
2016-05-13−18,000→ 0 total→ Common Stock (18,000 underlying)
Footnotes (3)
- [F1]Pursuant to that certain Agreement and Plan of Merger dated March 1, 2016 (the "Merger Agreement") by and among the Issuer, CCL Industries Inc. ("CCL") and a wholly-owned subsidiary of CCL, the Issuer became an indirect wholly-owned subsidiary of CCL upon consummation of the merger (the "Effective Time"). The aggregate holdings of 24,166 shares of common stock were disposed at the Effective Time for the following merger consideration: (a) 2,153 shares of common stock. At the Effective Time, each such share of common stock was disposed of in exchange for $10.15 (or the "Merger Consideration") in cash. (b) 22,013 shares of unvested restricted stock units ("RSUs"). At the Effective Time, each RSU (whether vested or unvested) was canceled in exchange for a cash amount equal to the product of (x) $10.15 and (y) the number of shares covered by such RSU, subject to all applicable withholding taxes.
- [F2]Pursuant to the procedures set forth in the Merger Agreement, each option vested in full at the Effective Time and was cancelled in exchange for a cash payment equal to the number of shares subject to the option immediately prior to the merger, into the right to receive an amount in cash, without interest, equal to the product of (x) the aggregate number of shares of the Issuer's common stock subject to such option, multiplied by (y) the excess, if any, of the Merger Consideration over the per share exercise price under such option, subject to all applicable withholding taxes. If the amount that could have been obtained upon the exercise of the option pursuant to the foregoing is equal to or less than zero, then the option will be terminated without payment.
- [F3]Represents performance-based restricted stock units ("PSUs") previously reported on Form 4 filed on March 2, 2016. Pursuant to the provisions of the Merger Agreement, at the Effective Time, each outstanding PSU, was deemed earned at the target level and was cancelled in exchange for a cash amount equal to the product of (x) $10.15 and (y) the target number of shares of common stock subject to the applicable award of PSUs, subject to all applicable withholding taxes.
Issuer
CHECKPOINT SYSTEMS INC
CIK 0000215419
Entity typeoperating
IncorporatedPA
Related Parties
1- filerCIK 0000215419
Filing Metadata
- Form type
- 4
- Filed
- May 12, 8:00 PM ET
- Accepted
- May 13, 4:28 PM ET
- Size
- 15.5 KB