STURGIS BANCORP INC 4

4 · STURGIS BANCORP INC · Filed Apr 26, 2005

Form 4

Period: 2005-02-22

Director

Transactions

Holdings

Common Stock
(indirect: By Trust)
52,600
Common Stock
66,400
Common Stock Option
Exercise: $15.88From: 1998-04-29Exp: 2008-04-29→ Common Stock (600 underlying)
600

Footnotes (3)

[F1]Mr. Dresser owned 375 shares of common stock of the Company in his Declaration of Trust Dated 07/25/1991. On February 22, 2005, the shareholders of the Company voted to enable the Company to "go private" whereby shares held by shareholders of record with fewer than 500 shares were cancelled. As a result, Mr. Dresser is entitled to receive $16.00 for each of the 375 shares owned in his Trust pursuant to the going private transaction. This was a deemed transaction and Mr. Dresser did not personally make an affirmative decision to sell his shares. To effectuate this going private transaction, sell his shares as required, and receive payment for his 375 shares owned in Trust, Mr. Dresser must send his old share certificates to the Paying/Exchange Agent acting on behalf of the Company. Mr. Dresser's certificates for these 375 shares no longer represent valid shares. As of the date of this Form 4, Mr. Dresser has not yet returned his 375 shares or recieved payment for these 375 shares.
[F2]This going private transaction did not impact other shares of the Company either directly or beneficially owned by Mr. Dresser and previously reported.
[F3]Reporting Person's IRA.

Documents

1 file