Cave George F 4
4 · ALLIANCE BANKSHARES CORP · Filed Dec 26, 2012
Insider Transaction Report
Form 4
Cave George F
Executive Vice President
Transactions
- Disposition to Issuer
Stock Option
2012-12-21−10,000→ 0 totalExercise: $3.15Exp: 2020-11-16→ Common Stock (10,000 underlying)
Footnotes (2)
- [F1]The option vests in installments: 15% on the first anniversary of the grant date; the next 20% on the second anniversary of the grant date, the next 25% on the third anniversary of the grant date and the final 40% on the fourth anniversary of the grant date.
- [F2]Effective December 21, 2012, pursuant to an Agreement and Plan of Reorganization, dated as of May 3, 2012, by and among WashingtonFirst Bankshares, Inc. ("WashingtonFirst"), the Issuer and Alliance Bank Corporation, as amended by Amendment No. 1, dated as of August 9, 2012 (the "Agreement"), the Issuer merged with and into WashingtonFirst, with WashingtonFirst as the surviving company (the "Merger"). At the Effective Time (as defined in the Agreement), each option, whether or not vested or exercisable, issued and outstanding immediately prior to the Effective Time was cancelled as of the Effective Time solely in exchange for the right to receive an amount in cash (less any applicable withholding taxes) equal to the product of (i) the number of shares of the Issuer's common stock subject to such option immediately prior to the Effective Time and (ii) the difference, if positive, between (A) $5.30 and (B) the exercise price per share of the Issuer's common stock subject to such option.