Black Christopher James 4
4 · Franklin Financial Network Inc. · Filed Aug 18, 2020
Insider Transaction Report
Form 4
Black Christopher James
EVP, Chief Financial Officer
Transactions
- Disposition to Issuer
Common Stock
2020-08-15−5,888→ 0 total - Disposition to Issuer
Common Stock
2020-08-15−4,844→ 0 total(indirect: By 401(k)) - Disposition to Issuer
Common Stock
2020-08-15−15,137→ 0 total
Footnotes (2)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), among the Issuer, FB Financial Corporation ("FB Financial"), and Paisley Acquisition Corporation, in exchange for the right to receive for each share of common stock, restricted stock, or restricted stock unit (1) 0.9650 shares of common stock, par value $1.00 per share, of FB Financial ("FB Financial Common Stock"), having a market value of $29.52 per share as of the close of trading on August 14, 2020, the last trading day prior to the effective time of the merger (the "Effective Time"), and (2) $2.00 in cash (collectively, the "Merger Consideration").
- [F2]Pursuant to the Merger Agreement, at the Effective Time, the restricted stock units ("RSUs"), which provided for vesting in equal, one-third increments on January 16, 2021, January 16, 2022, and January 16, 2023, were converted into an RSU award in respect of a number of shares of FB Financial Common Stock equal to the product of (a) the total number of shares of Issuer common stock underlying the RSU award multiplied by (ii) 1.0336, all on the same terms and conditions as applied to the corresponding Issuer RSU award.