AGEE KENNETH L 4
4 · SYNTROLEUM CORP · Filed Jun 30, 2005
Insider Transaction Report
Form 4
SYNTROLEUM CORPSYNM
AGEE KENNETH L
Director and Chairman10% Owner
Transactions
- Other
Forward Sale Contract (Right/Obligation to Sell)
2005-06-29−0→ 0 total→ Common Stock
Footnotes (1)
- [F1]On 6/29/05 Kenneth L. Agee and Cindy A. Agee TIC, a trust controlled by Mr. Agee (the "Trust"), and Merrill Lynch Pierce Fenner & Smith ("Merrill") agreed upon the definitive terms of a prepaid variable forward sales contract ("Forward Contract") with respect to 200,000 shares of Syntroleum common stock. Pursuant to the Forward Contract, the Trust received $1,806,000 and is required to deliver to Merrill on or around 6/29/07 a variable number of shares of Syntroleum common stock not to exceed 200,000 shares. The actual number of underlying shares to be delivered will be determined based upon the market price of the shares at the maturity of the Forward Contract. If such market price is less than or equal to $10.50 per share then the Trust will be obligated to deliver the full amount of the underlying securities, and if such market price is above $10.50 per share then the Trust will be obligated to deliver a lesser amount of underlying securities based upon a predetermined formula.