Banerjee Prithviraj 4
4 · CRAY INC · Filed Sep 27, 2019
Insider Transaction Report
Form 4
CRAY INCCRAY
Banerjee Prithviraj
Director
Transactions
- Disposition to Issuer
Stock option (right to buy)
2019-09-25−20,000→ 0 totalExercise: $21.16Exp: 2023-05-01→ Common Stock (20,000 underlying) - Disposition to Issuer
Common Stock
2019-09-25$35.00/sh−18,723$655,305→ 0 total
Footnotes (3)
- [F1]Disposed of pursuant to the merger agreement among Issuer, Canopy Merger Sub, Inc., and Hewlett Packard Enterprise Company ("HPE") dated May 16, 2019 (the "Merger Agreement") for a payment of $35.00 in cash (the "Merger Consideration") on the closing date of the merger (the "Closing Date").
- [F2]The option was 100% vested and exercisable on May 1, 2013.
- [F3]To the extent vested, the option was cancelled and converted on the Closing Date into a cash payment equal to the product of (a) the aggregate number of underlying shares multiplied by (b) the excess of the Merger Consideration over the applicable per share exercise price of such option. To the extent unvested, the option was converted on the Closing Date into an option to acquire a number of shares of HPE common stock determined in accordance with the formula set forth in the Merger Agreement.