4//SEC Filing
Cantrell Jeffery Richard 4
Accession 0001104659-21-147276
CIK 0001323648other
Filed
Dec 6, 7:00 PM ET
Accepted
Dec 7, 5:20 PM ET
Size
22.2 KB
Accession
0001104659-21-147276
Insider Transaction Report
Form 4
Cantrell Jeffery Richard
COO, Essex Bank
Transactions
- Disposition to Issuer
Employee Stock Option
2021-12-03−20,000→ 0 totalExercise: $7.40Exp: 2027-01-20→ Common Stock (20,000 underlying) - Disposition to Issuer
Employee Stock Option
2021-12-03−20,000→ 0 totalExercise: $8.45Exp: 2028-01-19→ Common Stock (20,000 underlying) - Disposition to Issuer
Employee Stock Option
2021-12-03−20,000→ 0 totalExercise: $5.07Exp: 2026-01-22→ Common Stock (20,000 underlying) - Disposition to Issuer
Employee Stock Option
2021-12-03−25,000→ 0 totalExercise: $7.70Exp: 2029-01-18→ Common Stock (25,000 underlying) - Disposition to Issuer
Restricted Stock Units (performance-based)
2021-12-03−5,000→ 0 totalFrom: 2023-12-31→ Common Stock (5,000 underlying) - Disposition to Issuer
Common Stock
2021-12-03−30,875→ 0 total - Disposition to Issuer
Employee Stock Option
2021-12-03−20,000→ 0 totalExercise: $9.45Exp: 2030-01-17→ Common Stock (20,000 underlying) - Disposition to Issuer
Employee Stock Option
2021-12-03−20,000→ 0 totalExercise: $7.67Exp: 2031-02-19→ Common Stock (20,000 underlying)
Footnotes (9)
- [F1]The transaction reported is the disposition of shares of the Issuer's common stock pursuant to the terms of the Agreement and Plan of Reorganization, dated June 2, 2021, by and between United Bankshares, Inc. ("United") and the Issuer, pursuant to which the Issuer was merged with and into United effective December 3, 2021 (the "Merger"). Pursuant to the Merger, each issued and outstanding share of the Issuer's common stock was converted into 0.3173 shares of United's common stock, with cash paid in lieu of fractional shares. As a result of the Merger, the reporting person no longer beneficially owns directly or indirectly any shares of the Issuer's common stock.
- [F2]The option vested in four equal annual installments beginning on January 22, 2017.
- [F3]The option vested in four equal annual installments beginning on January 20, 2018.
- [F4]The option vested and was to vest in four equal annual installments beginning on January 19, 2019.
- [F5]The option vested and was to vest in four equal annual installments beginning on January 18, 2020.
- [F6]The option vested and was to vest in four equal annual installments beginning on January 17, 2021.
- [F7]The option was to vest in four equal annual installments beginning on February 19, 2022.
- [F8]The option was assumed by United in the Merger, vesting in accordance with the terms of the award agreement, and replaced with an option to purchase shares of United's common stock equal to the number of shares of the Issuer's common stock subject to such option multiplied by 0.3173, at an exercise price equal to the exercise price of such option divided by 0.3173.
- [F9]The restricted stock units were assumed by United in the Merger, vesting in accordance with the terms of the award agreement, and replaced with the right to receive a number of shares of United's common stock equal to the vested number of shares of the Issuer's common stock multiplied by 0.3173. The vesting of the performance-based restricted stock units, and the corresponding issuance of shares of common stock, had been based on the Issuer's performance with respect to the return on average assets financial metric over the three-year period ending December 31, 2023.
Documents
Issuer
Community Bankers Trust Corp
CIK 0001323648
Entity typeother
Related Parties
1- filerCIK 0001554928
Filing Metadata
- Form type
- 4
- Filed
- Dec 6, 7:00 PM ET
- Accepted
- Dec 7, 5:20 PM ET
- Size
- 22.2 KB