PRISM FINANCIAL CORP 4
4 · PRISM FINANCIAL CORP · Filed May 17, 2000
Insider Transaction Report
Form 4
No transactions or holdings reported in this filing.
Footnotes (3)
- [1]Employee Stock Option (right to acquire) $3.375 1/21/00 A, V 10,000 A and (2): exercisable: (See Note 1.) expiration: 1/20/10 Common Stock, 10,000 shares
- [2]Employee Stock Option (right to acquire) $3.375 4/25/00 J (See Note 1.) 10,000 D Common Stock, 10,000 shares $4.125
- [3]Employee Stock Option (right to acquire) ___________________________________________________________________________ 2. Conversion or Exercise Price of Derivative Security $14.00 ___________________________________________________________________________ 3. Transaction Date (Month/Day/Year) 4/25/00 ___________________________________________________________________________ 4. Transaction Code (Instr. 8) J (See Note 2.) ___________________________________________________________________________ 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 8,000 D ___________________________________________________________________________ 6. Date Exercisable and Expiration Date (Month/Day/Year) exercisable: (See Note 2.) expiration: 5/24/09 ___________________________________________________________________________ 7. Title and Amount of Underlying Securities (Instr. 3 and 4) Common Stock, 8,000 shares ___________________________________________________________________________ 8. Price of Derivative Securities (Instr. 5) (See Note 2.) ___________________________________________________________________________ 9. Number of Derivative Securities Beneficially Owned at End of Month (Instr. 4) 0 ___________________________________________________________________________ 10. Ownership Form of Derivative Security: Direct(D) or Indirect(I) (Instr. 4) D ___________________________________________________________________________ 11. Nature of Indirect Beneficial Ownership (Instr. 4) ___________________________________________________________________________ Note 1. Pursuant to the merger agreement among Prism Financial Corporation, Prism Acquisition Subsidiary, Inc. and Royal Bank of Canada (the "Merger Agreement"), this option was cancelled in consideration for cash payments, payable according to the option's vesting schedule, equal on a per-share basis to the difference between the exercise price of the option ($3.375) and the cash merger consideration provided for by the Merger Agreement ($7.50). Under the applicable option agreement, this option would have vested as to 33 1/3% of the underlying shares per year over three years. Note 2. This option was cancelled with no consideration, pursuant to the Merger Agreement. Under the applicable option agreement, vesting was scheduled in three equal annual installments beginning on May 24, 2000. Note 3. Between March 8, 2000 and March 17, 2000, a transaction by the Reporting Person was initiated but cancelled and unwound involving 3,800 shares of the Issuer.