Cuneo Dennis C 4
4 · AK STEEL HOLDING CORP · Filed Mar 13, 2020
Insider Transaction Report
Form 4
Cuneo Dennis C
Director
Transactions
- Disposition to Issuer
Common Stock
2020-03-13−226,817.669→ 0 total - Disposition to Issuer
Common Stock
2020-03-13−2,000→ 0 total(indirect: By Trust)
Footnotes (2)
- [F1]Reflects disposition in connection with the consummation of the transactions contemplated by the Agreement and Plan of Merger, dated December 2, 2019 (the "Merger Agreement"), among the Issuer, Cleveland-Cliffs Inc. ("Cliffs") and Pepper Merger Sub Inc. ("Merger Sub"), pursuant to which Merger Sub merged with and into the Issuer (the "Merger"), with the Issuer surviving the Merger as a wholly owned subsidiary of Cliffs, and each share of the Issuer's common stock, par value $0.01 per share (the "Common Stock"), outstanding immediately prior to the effective time of the Merger was converted into the right to receive 0.400 (the "Exchange Ratio") of a common share of Cliffs, together with cash in lieu of any fractional Cliffs common shares. The closing price of a share of Common Stock on March 12, 2020 (the last trading day prior to the Merger) was $1.55, and the closing price of a Cliffs common share on the same date was $4.06.
- [F2]Includes 213,105.669 restricted stock units that, pursuant to the Merger Agreement, were converted into restricted stock units with respect to 85,242 Cliffs common shares.