WHITE WILLIAM J 4
4 · PACKAGING DYNAMICS CORP · Filed Jun 13, 2006
Insider Transaction Report
Form 4
WHITE WILLIAM J
Director
Transactions
- Disposition to Issuer
Stock Option (right to buy)
2006-06-09$3.50/sh−5,000$17,500→ 0 totalExercise: $10.50From: 2004-12-31Exp: 2010-12-31→ Common Stock (5,000 underlying) - Disposition to Issuer
Common Stock
2006-06-09$14.00/sh−2,600$36,400→ 0 total - Disposition to Issuer
Stock Option (right to buy)
2006-06-09$7.00/sh−2,000$14,000→ 0 totalExercise: $7.00From: 2004-06-13Exp: 2013-06-13→ Common Stock (2,000 underlying)
Footnotes (5)
- [F1]Shares disposed of pursuant to an Agreement and Plan of Merger, dated as of February 24, 2006, by and among Thilmany, LLC, KTHP Acquisition, Inc. and Packaging Dynamics Corporation ("PKDY") (the "Merger Agreement"), by which each share of PKDY Common Stock issued and outstanding immediately prior to the effectiveness of the merger on June 9, 2006 was converted into the right to receive $14.00 in cash, without interest and less any applicable withholding tax.
- [F2]These options were disposed of pursuant to the Merger Agreement and cancelled in exchange for a cash payment of $14.00 per underlying share of PKDY Common Stock less the exercise price of such options.
- [F3]These options, which provided for vesting in three equal annual installments from the date of grant, June 13, 2003, were cancelled in exchange for a cash payment of $14.00 per underlying share of PKDY Common Stock less the exercise price of such options.
- [F4]These options, which provided for vesting in three equal annual installments from the date of grant, December 31, 2003, were cancelled in exchange for a cash payment of $14.00 per underlying share of PKDY Common Stock less the exercise price of such options.
- [F5]These options, which provided for vesting in three equal annual installments from the date of grant, December 22, 2005, were cancelled in exchange for a cash payment of $14.00 per underlying share of PKDY Common Stock less the exercise price of such options.