KURZWEIL APPLIED INTELLIGENCE INC /DE/ 4
4 · KURZWEIL APPLIED INTELLIGENCE INC /DE/ · Filed Jul 9, 1997
Insider Transaction Report
Form 4
KAPLAN STEVEN F
Director
Transactions
- Award
Director Stock Option
1997-06-20+3,000Exercise: $5.19→ Common Stock (3,000 underlying)
Holdings
- 10,000
Director Stock Option
Exercise: $4.38→ Common Stock (10,000 underlying) - 3,000
Director Stock Option
Exercise: $2.88→ Common Stock (3,000 underlying) - 3,000
Director Stock Option
Exercise: $5.19→ Common Stock (3,000 underlying)
Footnotes (4)
- [1]On June 27, 1997 the Issuer merged (the "Merger") with a subsidiary of Lernout & Hauspie Speech Products NV ("L&H") pursuant to an Agreement and Plan of Merger approved by stockholders of the Issuer on June 26, 1997.
- [2]Exchanged for $7,878 in cash and 89.183 shares of common stock of L&H having a value based on the closing price on June 27, 1997 of $27.50 per share. The fractional share is payable in cash at the June 27, 1997 market value.
- [3]Exchanged for $5,873 in cash and 66.489 shares of L&H common stock. The fractional share is payable in cash at the June 27, 1997 market value.
- [4]Exchanged for $461 in cash and 5.219 shares of L&H common stock. The fractional share is payable in cash at the June 27, 1997 market value. * The options covering these derivative securities by their terms became exercisable in full as a result of the Merger and pursuant to the terms of the Merger, were terminated at the effective time of the Merger on June 27, 1997.