Independence Health Group, Inc. 4
4 · InsPro Technologies Corp · Filed Apr 3, 2020
Insider Transaction Report
Form 4
InsPro Technologies CorpITCC.OB
Independence Health Group, Inc.
10% Owner
Transactions
- Disposition to Issuer
Series B Convertible Preferred Stock
2020-04-01−2,500,000→ 0 total(indirect: See footnote)→ Common (50,000,000 underlying)
Footnotes (3)
- [F1]There is no expiration date for the conversion of the Series B Convertible Preferred Stock, and no exercise price to be paid in connection therewith.
- [F2]Disposition pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of January 30, 2020, by and among InsPro Technologies Corporation (the "Issuer"), with Majesco, a California corporation ("Parent"), and Majesco Merger Sub, Inc., a Delaware corporation ("Merger Sub"), whereby each share of Series B Convertible Preferred Stock, par value $0.001, of the Issuer was converted on the effective date of the merger (April 1, 2020) into the right to receive $0.9747 in cash.
- [F3]The reported securities are owned directly by Independence Blue Cross, LLC, which is a wholly owned subsidiary of AmeriHealth, Inc., which in turn is a wholly owned subsidiary of Independence Health Group, Inc. AmeriHealth, Inc. and Independence Health Group, Inc. are indirect beneficial owners of the reported securities.