4//SEC Filing
BIO REFERENCE LABORATORIES INC 4
Accession 0001019056-07-000887
CIK 0000792641operating
Filed
Oct 1, 8:00 PM ET
Accepted
Oct 2, 10:22 AM ET
Size
6.4 KB
Accession
0001019056-07-000887
Insider Transaction Report
Form 4
DUBINETT HOWARD
DirectorExecutive VP, COO
Transactions
- Sale
Common Stock
2007-09-28$17.26/sh−79,644$1,374,655→ 310,872 total
Footnotes (2)
- [F1]In lieu of an outright sale, on September 30, 2005, Howard Dubinett entered into a pre-paid variable price forward sales contract ("Forward Contract") with Bear Stearns Bank plc ("Bear Stearns"). Pursuant to the Forward Contract, Mr. Dubinett pledged 100,000 shares of his BRLI Common Stock to secure his obligation to deliver a maximum 100,000 shares of BRLI Common Stock to Bear Stearns on September 28, 2007 (the "Settlement Date"). As prepayment for the pledge of these shares, Bear Stearns paid Mr. Dubinett $1,374,400 or approximately $13.74 per share representing 80% of the proceeds from the sale of 100,000 shares on September 28, 2005. The shares that Mr. Dubinett would be obligated to deliver on the Settlement Date varied based on the price of the Common Stock on the Settlement Date. (Continued - Footnote 2)
- [F2]Mr. Dubinett would benefit from any excess in the price of the Common Stock on the Settlement Date between $17.18 per share up to a maximum $24.052 per share by being able to deliver fewer shares. Based on the closing price for BRLI Common Stock on the NASDAQ Global Market System on the Settlement Date, Mr. Dubinett was entitled to the return of 20,356 of the pledged 100,000 shares. The net effect of the transaction to Mr. Dubinett is that he sold 79,644 shares at a price of $17.26 per share.
Documents
Issuer
BIO REFERENCE LABORATORIES INC
CIK 0000792641
Entity typeoperating
IncorporatedNJ
Related Parties
1- filerCIK 0000792641
Filing Metadata
- Form type
- 4
- Filed
- Oct 1, 8:00 PM ET
- Accepted
- Oct 2, 10:22 AM ET
- Size
- 6.4 KB