4//SEC Filing
MERCHANTS BANCSHARES INC 4
Accession 0001104659-17-033259
CIK 0000726517operating
Filed
May 15, 8:00 PM ET
Accepted
May 16, 6:57 PM ET
Size
5.6 KB
Accession
0001104659-17-033259
Insider Transaction Report
Form 4
CHASE DONALD R
Director
Transactions
- Disposition to Issuer
Common Stock
2017-05-12−29,648→ 0 total
Footnotes (2)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger, dated as of October 22, 2016 (the "Merger Agreement"), between Merchants Bancshares, Inc. ("Merchants") and Community Bank System, Inc. ("Community Bank System"). Pursuant to the Merger Agreement, in exchange for each share of Merchants common stock the reporting person could elect to receive (i) $40.00 per share in cash without interest, (ii) 0.9630 shares of Community Bank System common stock, or (iii) a combination of $12.00 per share in cash without interest and 0.6741 shares of Community Bank System common stock.
- [F2]Any election by the reporting person is subject to proration procedures that are designed to ensure that the total amount of cash paid, and the total number of shares of Community Bank System common stock issued, in the merger will equal as nearly as practicable the total amount of cash and number of shares that would have been paid and issued if all of the Merchants stockholders received a combination of $12.00 per share in cash without interest and 0.6741 shares of Community Bank System common stock.
Documents
Issuer
MERCHANTS BANCSHARES INC
CIK 0000726517
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0000726517
Filing Metadata
- Form type
- 4
- Filed
- May 15, 8:00 PM ET
- Accepted
- May 16, 6:57 PM ET
- Size
- 5.6 KB