Parekh Adarsh 4
4 · Terran Orbital Corp · Filed Oct 30, 2024
Insider Transaction Report
Form 4
Parekh Adarsh
Chief Financial Officer & EVP
Transactions
- Disposition to Issuer
Restricted Stock Units
2024-10-30−300,000→ 0 total→ Common Stock (300,000 underlying)
Footnotes (1)
- [F1]On October 30, 2024, the reported securities were disposed of pursuant to the terms of the Agreement and Plan of Merger, dated as of August 15, 2024, by and among Terran Orbital Corporation ("Terran"), Lockheed Martin Corporation ("Parent"), and Tholian Merger Sub, Inc., a wholly owned subsidiary of Parent ("Merger Sub"), whereby Merger Sub merged with and into Terran with Terran as the surviving corporation of the merger (the "Merger"). Upon the effectiveness of the Merger, each restricted stock unit (the "Company RSUs") held by the reporting person automatically became fully vested and was cancelled and converted into the right to receive an amount in cash, without interest and subject to applicable withholding of taxes, equal to the product of (i) the total number of shares of Terran common stock, par value $0.0001 per share, underlying such Company RSU held by the reporting person multiplied by (ii) the merger consideration of $0.25.