COONROD RICHARD A 4
4 · PACKAGED ICE INC · Filed Aug 19, 2003
Insider Transaction Report
Form 4
COONROD RICHARD A
Director
Transactions
- Disposition to Issuer
Employee Stock Option
2003-08-15$1.64/sh−10,000$16,380→ 0 totalExercise: $2.00Exp: 2011-06-20→ Common Stock (10,000 underlying)
Footnotes (1)
- [F1]This option would have vested, in accordance with its terms, in five equal, annual installments beginning one year from the date of grant, which was June 20, 2001. However, pursuant to the terms of the incentive plan under which the option was granted and due to the merger of Cube Acquisition Corp. with and into Packaged Ice, Inc., the option became fully vested on August 14, 2003 and was cancelled in the merger in exchange for a cash payment of $16,380 representing the difference between the exercise price of the option and the price per share of the underlying common stock paid pursuant to the merger ($3.638 per share).