4//SEC Filing
UNITED BANCORP INC /MI/ 4
Accession 0000905729-14-000252
CIK 0000775345operating
Filed
Jul 31, 8:00 PM ET
Accepted
Aug 1, 10:46 AM ET
Size
15.3 KB
Accession
0000905729-14-000252
Insider Transaction Report
Form 4
WEBB RAYMOND J
Executive Vice President
Transactions
- Other
Restricted Stock Units
2014-07-31−4,790→ 0 total→ Common Stock (4,790 underlying) - Other
Common Stock
2014-07-31−1,500→ 0 total - Other
Stock Appreciation Rights
2014-07-31−4,000→ 0 totalExercise: $5.05Exp: 2023-03-06→ Common Stock (4,000 underlying)
Footnotes (6)
- [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]Shares of restricted stock that pursuant to the Merger Agreement accelerated vesting consistent with the Merger Agreement and applicable plan documents and, as with each other share of common stock of the Company, each such vested share was converted into the right to receive (a) $2.66 cash and (b) 0.7 shares of Old National common stock.
- [F3]Stock appreciation rights settled in shares of common stock.
- [F4]Pursuant to the terms of the Merger Agreement, each stock appreciation right ("SAR") held by the reporting person fully vested and was converted into an award of SARs denominated in Old National common stock, with the number of underlying 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.
- [F5]Each restricted stock unit ("RSU") represents the contingent right to receive one share of common stock of the Company.
- [F6]Pursuant to the terms of the Merger Agreement, each RSU award held by the reporting person became fully vested and each RSU award was converted into the number of shares of Old National common stock determined pursuant to the converted stock-based award ratio set forth in the Merger Agreement.
Issuer
UNITED BANCORP INC /MI/
CIK 0000775345
Entity typeoperating
IncorporatedMI
Related Parties
1- filerCIK 0000775345
Filing Metadata
- Form type
- 4
- Filed
- Jul 31, 8:00 PM ET
- Accepted
- Aug 1, 10:46 AM ET
- Size
- 15.3 KB