MAXCOR FINANCIAL GROUP INC 4
4 · MAXCOR FINANCIAL GROUP INC · Filed May 24, 2005
Insider Transaction Report
Form 4
SCHARF GILBERT D
DirectorChairman, CEO and President10% Owner
Transactions
- Disposition to Issuer
Option (right to buy)
2005-05-20$11.00/sh−30,000$330,000→ 0 totalExercise: $3.00Exp: 2011-07-02→ Common Stock (30,000 underlying) - Disposition to Issuer
Option (right to buy)
2005-05-20$8.00/sh−25,000$200,000→ 0 totalExercise: $6.00Exp: 2012-06-30→ Common Stock (25,000 underlying) - Disposition to Issuer
Common Stock, par value $.001
2005-05-20$14.00/sh−1,005,312$14,074,368→ 0 total(indirect: By Trust) - Disposition to Issuer
Option (right to buy)
2005-05-20$11.39/sh−40,000$455,600→ 0 totalExercise: $2.61Exp: 2010-02-14→ Common Stock (40,000 underlying) - Disposition to Issuer
Option (right to buy)
2005-05-20$3.30/sh−35,000$115,500→ 0 totalExercise: $10.70Exp: 2013-07-21→ Common Stock (35,000 underlying) - Disposition to Issuer
Option (right to buy)
2005-05-20$12.00/sh−150,000$1,800,000→ 0 totalExercise: $2.00Exp: 2006-08-26→ Common Stock (150,000 underlying) - Gift
Common Stock, par value $.001
2005-04-29−68,000→ 1,005,312 total(indirect: By Trust) - Disposition to Issuer
Common Stock, par value $.001
2005-05-20$14.00/sh−176,206$2,466,884→ 0 total
Footnotes (5)
- [F1]These options, which provided for vesting in five equal installments beginning August 27, 1999, were canceled in the merger of Magnet Acquisition Corp. with and into the Issuer (the "Merger") pursuant to the Agreement and Plan of Merger, dated as of April 4, 2005, by and among the Issuer, BGC Partners, L.P. and Magnet Acquisition Corp. in exchange for a cash payment of $1,800,000, representing the difference between the exercise price of the option and the $14.00 per share of Common Stock payable as consideration in the Merger.
- [F2]These options, which provided for vesting in four equal installments beginning February 15, 2001, were canceled in the Merger in exchange for a cash payment of $455,600, representing the difference between the exercise price of the option and the $14.00 per share of Common Stock payable as consideration in the Merger.
- [F3]These options, which provided for vesting in four equal installments beginning July 3, 2002, were canceled in the Merger in exchange for a cash payment of $330,000, representing the difference between the exercise price of the option and the $14.00 per share of Common Stock payable as consideration in the Merger.
- [F4]These options, which provided for vesting in four equal installments beginning July 1, 2003, were canceled in the Merger in exchange for a cash payment of $200,000, representing the difference between the exercise price of the option and the $14.00 per share of Common Stock payable as consideration in the Merger.
- [F5]These options, which provided for vesting in four equal installments beginning July 22, 2004, were canceled in the Merger in exchange for a cash payment of $115,500, representing the difference between the exercise price of the option and the $14.00 per share of Common Stock payable as consideration in the Merger.