POSTMA RICHARD L 4
4 · MACATAWA BANK CORP · Filed Jun 29, 2011
Insider Transaction Report
Form 4
MACATAWA BANK CORP(MCBC)
POSTMA RICHARD L
Director
Transactions
- Award
Common Stock
2011-06-29$2.30/sh+969,013$2,228,730→ 969,013 total - Award
Common Stock
2011-06-29$2.04/sh+491,830$1,003,333→ 491,830 total
Footnotes (1)
- [F1]The aggregate purchase price paid for the securities consisted of the conversion of a 2% Subordinated Note due 2018 in the aggregate principal amount of $1,000,000 into whole shares of common stock (rounded to the nearest whole number) at a conversion price of $2.04 per share (representing the book value per share of the issuer's common stock at March 31, 2011) at a value equal to the principal amount of the note plus interest accrued (or $1,003,333.33) in accordance with the terms of the note.