INLAND REAL ESTATE CORP 4
4 · INLAND REAL ESTATE CORP · Filed Mar 30, 2016
Insider Transaction Report
Form 4
ZALATORIS MARK E
President and CEO
Transactions
- Disposition to Issuer
Common Stock
2016-03-30$10.60/sh−176,000$1,865,600→ 0 total - Disposition to Issuer
Option to Buy
2016-03-30$2.71/sh−4,500$12,195→ 0 totalExercise: $7.89From: 2010-08-19Exp: 2019-08-20→ Common Stock (4,500 underlying)
Footnotes (3)
- [F1]Includes (i) 62,379 shares of restricted common stock, all of which have vested; (ii) 11,915 shares of restricted common stock, 20% of which vested on each of July 1, 2012, 2013, 2014 and 2015 and 20% of which was set to vest on July 1, 2016; (iii) 21,600 shares of restricted common stock, 20% of which vested on July 1, 2013, 2014 and 2015 and 20% of which was set to vest on each of July 1, 2016 and July 1, 2017; (iv) 23,000 shares of restricted common stock, of which 20% vested on each of July 1, 2014 and 2015 and 20% of which was set to vest on each of July 1, 2016, 2017 and 2018; and (v) 32,000 shares of restricted common stock, of which 20% vested on July 1, 2015 and 20% of which was set to vest on each of July 1, 2016, 2017, 2018 and 2019.
- [F2]Pursuant to the terms of the Agreement and Plan of Merger by and among Inland Real Estate Corporation (the "Company"), DRA Growth and Income Fund VIII, LLC, a Delaware limited liability company, DRA Growth and Income Fund VIII (A), LLC, a Delaware limited liability company and Midwest Retail Acquisition Corp., a Maryland corporation ("Merger Agreement"), each share of Inland Real Estate Corporation common stock owned by the reporting person immediately prior to the Merger converted at the effective time into the right to receive $10.60 per share, in cash.
- [F3]Pursuant to the terms of the Merger Agreement, each stock option of the Company, whether or not exercisable, was fully vested at the effective time of the merger, cancelled and converted into the right to receive the excess, if any, of (i) the number of shares of Company common stock underlying the options times (ii) (x) $10.60 less (y) the per share exercise price of the option.