GENERAL PHYSICS CORP 4
4 · GENERAL PHYSICS CORP · Filed Feb 7, 1997
Insider Transaction Report
Form 4
Fresne, Donald C.
Director
Transactions
- Sale
Common Stock
1999-01-24$4.75/sh−1,000$4,750
Footnotes (1)
- [1]Pursuant to the terms of the Agreement and Plan of Merger between National Patent Development Corporation (NPD) and General Physics Corporation (GPC dated November 19, 1996, and amended on December 17, 1996, NPD agreed to purchase, prior to the effective date of the merger, 1/24/97, all stock options held by each employee, officer and director of GPC which would vest by their terms prior to or at the effective date of the merger. Holders of vested stock options received cash in an amount equal to $5.20 per share less the exercise price of the stock option.