UNITED BANCORP INC /MI/ 4
4 · UNITED BANCORP INC /MI/ · Filed Aug 1, 2014
Insider Transaction Report
Form 4
HERBERT NORMAN G
Director
Transactions
- Other
Common Stock
2014-07-31−4,000→ 0 total - Other
Stock Options (Right to Buy)
2014-07-31−2,000→ 0 totalExercise: $22.75Exp: 2016-09-06→ Common Stock (2,000 underlying)
Footnotes (2)
- [F1]Pursuant to the Agreement and Plan of Merger, dated as of January 7, 2014 (the "Merger Agreement"), by and between United Bancorp, Inc. (the "Company") and Old National Bancorp ("Old National"), each share of common stock of the Company was converted into the right to receive (a) $2.66 cash and (b) 0.7 shares of Old National common stock. The shares of common stock of Old National had a market value of $13.65 per share as of the close of trading on NASDAQ on July 30, 2014, the trading day immediately preceding the effective time of the Merger.
- [F2]Pursuant to the Merger Agreement, each outstanding stock option to purchase common stock of the Company was converted into a stock option to purchase a number of shares of Old National common stock determined pursuant to the converted stock-based award ratio set forth in the Merger Agreement, and with a corresponding adjustment to the exercise price.