4//SEC Filing
Patel Anil 4
Accession 0000899243-20-022811
CIK 0001407067other
Filed
Aug 17, 8:00 PM ET
Accepted
Aug 18, 8:06 PM ET
Size
14.4 KB
Accession
0000899243-20-022811
Insider Transaction Report
Form 4
Patel Anil
Director
Transactions
- Disposition to Issuer
Common Stock
2020-08-15−114,841→ 0 total - Disposition to Issuer
Common Stock
2020-08-15−46,402→ 0 total(indirect: By Spouse) - Disposition to Issuer
Stock Options (right to buy)
2020-08-15−3,000→ 0 totalExercise: $36.78Exp: 2028-10-15→ Common Stock (3,000 underlying) - Disposition to Issuer
Stock Options (right to buy)
2020-08-15−3,000→ 0 totalExercise: $27.72Exp: 2029-01-15→ Common Stock (3,000 underlying) - Disposition to Issuer
Stock Options (right to buy)
2020-08-15−3,000→ 0 totalExercise: $36.25Exp: 2028-07-16→ Common Stock (3,000 underlying)
Footnotes (4)
- [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, 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 option, which provided for vesting in three equal annual installments beginning on January 15, 2020, was converted into the right to receive the Merger Consideration in respect of each "Net Share," defined as the number of shares determined by dividing (a) the product of (1) the excess, if any, of $30.13 over the per share exercise price of the option multiplied by (2) the number of shares underlying the option, by (b) $30.13.
- [F3]Pursuant to the Merger Agreement, at the Effective Time, the option, which provided for vesting in three equal annual installments beginning on October 15, 2019, was converted into the right to receive the Merger Consideration in respect of each Net Share.
- [F4]Pursuant to the Merger Agreement, at the Effective Time, the option, which provided for vesting in three equal annual installments beginning on January 15, 2020, was converted into the right to receive the Merger Consideration in respect of each Net Share.
Documents
Issuer
Franklin Financial Network Inc.
CIK 0001407067
Entity typeother
Related Parties
1- filerCIK 0001736272
Filing Metadata
- Form type
- 4
- Filed
- Aug 17, 8:00 PM ET
- Accepted
- Aug 18, 8:06 PM ET
- Size
- 14.4 KB