GFSB BANCORP INC 4
4 · GFSB BANCORP INC · Filed Jun 2, 2005
Insider Transaction Report
Form 4Exit
GFSB BANCORP INCGUPB
HEAD WILLIAM W JR
Chief Lending Officer
Transactions
- Disposition to Issuer
Common Stock
[F1]2005-05-31−4,978→ 0 total - Disposition to Issuer
Common Stock
[F1]2005-05-31−14,193→ 0 total(indirect: By IRA) - Disposition to Issuer
Common Stock
[F1]2005-05-31−10,870→ 0 total(indirect: ESOP) - Disposition to Issuer
Options - (Right to Buy)
[F2]2005-05-31−8,906.25→ 0 totalExercise: $7.40Exp: 2006-01-05→ Common Stock (8,906.25 underlying)
Footnotes (2)
- [F1]Disposed of pursuant to merger agreement between issuer and First Federal Banc of the Southwest, Inc. (FFBSW) in exchange for either $20.00 cash or 1.17806 shares of FFBSW.
- [F2]This option, which provided for vesting in five equal annual installments beginning January 5, 1997, was canceled in the merger in exchange for a cash payment of $54,989.42 representing the difference between the exercise price of the option and the market value of the underlying GFSB common stock on the effective date of the merger ($20.00 per share) and in exchange for 3,371 shares of common stock of FFBSW, representing the difference between the exercise price of the option and the market value of the underlying FFBSW common stock of $16.977 on the effective date of the merger.
Signature
/s/William W. Head, Jr.|2005-06-01