TOLLGRADE COMMUNICATIONS INC \PA\ 4
4 · TOLLGRADE COMMUNICATIONS INC \PA\ · Filed May 12, 2011
Insider Transaction Report
Form 4
HOFFMAN CHARLES E
Director
Transactions
- Disposition to Issuer
Common stock
2011-05-10$10.10/sh−14,098$142,390→ 0 total - Disposition to Issuer
Nonstatutory stock option
2011-05-10$4.36/sh−35,000$152,600→ 0 totalExercise: $5.74From: 2009-10-19Exp: 2019-10-19→ Common stock (35,000 underlying)
Footnotes (3)
- [F1]Includes 8,000 retricted shares of common stock.
- [F2]Pursuant to the Agreement and Plan of Merger, dated February 21, 2011, among Tollgrade Communications, Inc. ("Tollgrade"), Talon Holdings, Inc., and Talon Merger Sub, Inc. (the "Merger Agreement"), effective as of May 10, 2011, shares of Tollgrade common stock (including restricted shares) were automatically canceled and converted into the right to receive $10.10 per share in cash.
- [F3]Pursuant to the Merger Agreement, effective as of May 10, 2011, each stock option was canceled and converted into the right to receive an amount in cash equal to the product of (a) the excess, if any, of $10.10 over the exercise price of such stock option, multiplied by (b) the number of shares which could have been purchased upon exercise of such stock option, without regard to whether or not such stock option was then vested.