INTERNATIONAL ABSORBENTS INC 4

4 · INTERNATIONAL ABSORBENTS INC · Filed Jun 2, 2010

Insider Transaction Report

Form 4Exit

Period: 2010-05-27

INTERNATIONAL ABSORBENTS INCIAX

ELLIS GORDON LLOYD

DirectorCEO, President

Transactions

Exercise/Conversion
Common Shares
2010-05-27$4.70/sh+25,000$117,500→ 0 total
Exercise/Conversion
Common Shares
2010-05-27$4.60/sh+25,000$115,000→ 0 total
Exercise/Conversion
Common Shares
2010-05-27$3.20/sh+25,000$80,000→ 0 total
Exercise/Conversion
Common Shares
2010-05-27$3.60/sh+25,000$90,000→ 0 total
Exercise/Conversion
Common Shares
2010-05-27$3.55/sh+28,170$100,004→ 0 total
Disposition to Issuer
Common Shares
[F1]
2010-05-27$4.75/sh−277,145$1,316,439→ 0 total
Disposition to Issuer
Common Shares
[F1]
2010-05-27$4.75/sh−122,300$580,925→ 0 total(indirect: ABE Industries (1980) Inc)
Disposition to Issuer
Common Shares
[F1]
2010-05-27$4.75/sh−100,576$477,736→ 0 total(indirect: Gordann Consultants)
Disposition to Issuer
Common Shares
[F1]
2010-05-27$4.75/sh−15,000$71,250→ 0 total(indirect: Stelyconi Enterprises Ltd.)
Disposition to Issuer
Common Shares
[F1]
2010-05-27$4.75/sh−10,000$47,500→ 0 total(indirect: Shelan Development Corp.)
Exercise/Conversion
Stock Options
2010-05-27−25,000→ 0 total
Exercise: $4.70From: 2009-03-30Exp: 2011-03-30→ Common Shares (25,000 underlying)
Exercise/Conversion
Stock Options
2010-05-27−25,000→ 0 total
Exercise: $4.60From: 2010-03-30Exp: 2012-03-30→ Common Shares (25,000 underlying)
Exercise/Conversion
Stock Options
[F2]
2010-05-27−25,000→ 0 total
Exercise: $3.20Exp: 2013-04-03→ Common Stock (25,000 underlying)
Exercise/Conversion
Stock Options
[F3]
2010-05-27−25,000→ 0 total
Exercise: $3.60Exp: 2014-03-30→ Common Stock (25,000 underlying)
Exercise/Conversion
Stock Options
[F4]
2010-05-27−28,170→ 0 total
Exercise: $3.55Exp: 2015-09-17→ Common Stock (28,170 underlying)
Disposition to Issuer
Restricted Stock Units
[F6][F1][F5]
2010-05-27−9,390→ 0 total
→ Common Stock (9,390 underlying)

Footnotes (6)

[F1]Pursuant to the Arrangement Agreement dated December 14, 2009 by and among the Issuer, IAX Acquisition Corporation and IAX Canada Acquisition Company Inc. (the "Arrangement Agreement"), effective as of May 27, 2010, each common share was acquired by IAX Canada Acquisition Company Inc. for cash consideration equal to $4.75 per share.
[F2]Pursuant to the Arrangement Agreement effective May 27, 2010, these stock options, which originally provided full vesting April 3, 2013, were fully vested and exercisable.
[F3]Pursuant to the Arrangement Agreement effective May 27,2010, these stock options which originally provided full vesting Mar 30, 2014, were fully vested and exercisable.
[F4]Pursuant to the Arrangement Agreement effective May 27,2010, these stock options, which originally provided full vesting September 17, 2015, were fully vested and exercisable.
[F5]Pursuant to the Arrangement Agreement, effective May 27, 2010, these restricted stock units were cancelled in exchange for cash consideration equal to $4.75 per restricted stock unit.
[F6]Not Applicable

Signature

/s/ Gordon L. Ellis|2010-06-02

Documents

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