NORTHEAST PENNSYLVANIA FINANCIAL CORP 4
4 · NORTHEAST PENNSYLVANIA FINANCIAL CORP · Filed May 20, 2005
Insider Transaction Report
Form 4
SCHLITZER JOSEPH P
DirectorPresident of Subsidiary
Transactions
- Disposition to Issuer
Common Stock
2005-05-19−171,351→ 0 total - Disposition to Issuer
Stock Option (right-to-buy)
2005-05-19−39,360→ 0 totalExercise: $12.25From: 2001-01-23Exp: 2011-01-23→ Common Stock (39,360 underlying) - Disposition to Issuer
Common Stock
2005-05-19−417.317→ 0 total(indirect: By 401(k)) - Disposition to Issuer
Common Stock
2005-05-19−5,168.956→ 0 total(indirect: By ESOP)
Footnotes (3)
- [F1]Pursuant to the Agreement and Plan of Merger between KNBT Bancorp, Inc. and Northeast Pennsylvania Financial Corp., dated December 8, 2004, each share of Northeast Pennyslvania Financial Corp. common stock was exchanged for $23.00 in cash or shares of KNBT Bancorp, Inc. common stock, in accordance with the reporting person's election and the allocation and proration procedures contained in the Agreement and Plan of Merger.
- [F2]This form reflects increases in beneficial ownership resulting from exempt acquisitions pursuant to Rule 16b-3(c).
- [F3]Pursuant to the Agreement and Plan of Merger between KNBT Bancorp, Inc. and Northeast Pennsylvania Financial Corp., dated December 8, 2004, each option to purchase a share of Northeast Pennyslvania Financial Corp. common stock was converted into the right to receive a lump sum cash paymnent, subject to applicable withholding taxes, equal to $23.00 less the applicable exercise price of each option. All such options became fully vested and exercisable in connection with the change in control.