PENNROCK FINANCIAL SERVICES CORP 4
4 · PENNROCK FINANCIAL SERVICES CORP · Filed Jul 6, 2005
Insider Transaction Report
Form 4
CRISP GEORGE B
DirectorVice President and Treasurer
Transactions
- Disposition to Issuer
Stock Option Right to Buy
2005-07-01−1,056→ 0 totalExercise: $26.82From: 2005-05-28Exp: 2013-04-22→ COMMON STOCK (1,056 underlying) - Disposition to Issuer
Common Stock
2005-07-01−31,012.977→ 0 total - Disposition to Issuer
Stock Option Right to Buy
2005-07-01−1,023→ 0 totalExercise: $22.95From: 2005-05-28Exp: 2012-05-28→ COMMON STOCK (1,023 underlying) - Disposition to Issuer
Stock Option Right to Buy
2005-07-01−2,407→ 0 totalExercise: $28.12From: 2005-05-28Exp: 2014-06-14→ COMMON STOCK (2,407 underlying)
Footnotes (2)
- [F1]Disposed of pursuant to a merger agreement between issuer and Community Banks, Inc. Under the terms of the merger agreement, each outstanding share of issuer common stock has been converted into the right to receive 1.40 shares of Community Banks, Inc. common stock (plus cash in lieu of any fractional share interest). As a result of the merger, the reporting person no longer beneficially owns directly or indirectly any shares of common stock of the issuer. On the effective date of the merger, the closing price of Community Banks, Inc. common stock was $26.75.
- [F2]Pursuant to the merger agreement between the issuer and Community Banks, Inc., each outstanding option for issuer common stock at the effective time of the merger was converted into an option for Community Banks, Inc. common stock, with the number of Community Banks, Inc. shares subject to the option equal to the number of issuer shares subject to the option immediately prior to the conversion multiplied by 1.40 (the merger exchange ratio), rounded down to the nearest number of whole shares, and at an exercise price equal to the exercise price immediately before conversion divided by 1.40 (the merger exchange ratio), rounded up to the nearest cent. All options not then vested became fully vested as a result of the merger.