PORT FINANCIAL CORP 4
4 · PORT FINANCIAL CORP · Filed Jul 31, 2003
Insider Transaction Report
Form 4
CRANE DANIEL C
Director
Transactions
- Disposition to Issuer
Stock Option (Right to Buy)
2003-07-31−20,300→ 0 totalExercise: $15.88From: 2003-07-01Exp: 2010-10-18→ Common Stock (20,300 underlying) - Disposition to Issuer
Common Stock
2003-07-31$54.00/sh−6,399$345,546→ 0 total - Disposition to Issuer
Common Stock
2003-07-31$54.00/sh−5,956$321,624→ 0 total(indirect: see note)
Footnotes (2)
- [F1]Reflects 5,956 shares owned pursuant to the Port Financial Directors' Deferred Compensation Plan.
- [F2]All options vested as of July 1, 2003 pursuant to the accelerated vesting provisions of the option agreement for changes in control. The options were cancelled in connection with the merger of Mustang Acquisition Corp., a wholly owned subsidiary of Citizens Bank of Massachusetts, and Port Financial Corp. in exchange for a cash payment of $773,937.50, representing the difference between the exercise price of the option and the market value of the underlying Port Financial Corp. common stock on the effective date of the merger.