4//SEC Filing
Taff Michael S 4
Accession 0001027884-18-000096
CIK 0001027884other
Filed
May 13, 8:00 PM ET
Accepted
May 14, 11:50 AM ET
Size
10.3 KB
Accession
0001027884-18-000096
Insider Transaction Report
Form 4
Taff Michael S
Executive Vice President & CFO
Transactions
- Disposition to Issuer
Common Stock
2018-05-10−121,725→ 142,633 total - Disposition to Issuer
Common Stock
2018-05-10−142,633→ 0 total - Disposition to Issuer
Performance Share Award
2018-05-10−88,523→ 0 totalExercise: $0.00→ Common Stock (88,523 underlying)
Footnotes (4)
- [F1]Chicago Bridge and Iron Company N.V. (the Company), McDermott International, Inc. (McDermott) and certain other parties entered into the Business Combination Agreement, dated December 18, 2017, as amended on January 24, 2018 (the BCA), pursuant to which the Company and McDermott combined their businesses through a series of transactions completed on May 10, 2018 (the Combination).
- [F2]If shares of Company common stock were disposed of pursuant to the offer (the Exchange Offer) by McDermott Technology, B.V., a wholly owned subsidiary of McDermott, to exchange each share of CB&I common stock that was validly tendered and not properly withdrawn in the Exchange Offer for the right to receive 0.82407 shares of McDermott common stock, then upon the closing of the Combination, each such tendered share was exchanged into the right to receive 0.82407 shares of McDermott common stock.If shares of Company common stock were not validly tendered in the Exchange Offer, shares of Company common stock were disposed of pursuant to a series of transactions involving a merger, share sale and liquidation, as a result of which former Company shareholders who did not validly tender in the Exchange Offer became entitled to receive, in respect of each former share of Company common stock, 0.82407 shares of McDermott common stock.
- [F3]The restricted stock unit award vests in three equal installments on February 14, 2019, February 14, 2020 and February 14, 2021. Pursuant to the BCA, upon the closing of the Combination, the restricted stock unit award was assumed by McDermott and converted into a restricted stock unit award relating to a number of shares of McDermott common stock equal to the number of shares of Company common stock subject to the restricted stock unit award multiplied by 0.82407, rounded to the nearest whole number of shares.
- [F4]Pursuant to the BCA, upon the closing of the Combination, each performance share award, whether vested or unvested, was cancelled in exchange for the right to receive an amount in cash equal to (a) the product of (i) the number of shares of the Companys common stock issuable upon vesting of such performance share award at 100% of target multiplied by (ii) 2.47221 multiplied by (iii) $6.64 and (b) a cash amount equal to the amount of accrued dividend equivalents.
Documents
Issuer
CHICAGO BRIDGE & IRON CO N V
CIK 0001027884
Entity typeother
Related Parties
1- filerCIK 0001329526
Filing Metadata
- Form type
- 4
- Filed
- May 13, 8:00 PM ET
- Accepted
- May 14, 11:50 AM ET
- Size
- 10.3 KB