Moore Philip C 4
4 · Neenah Inc · Filed Jul 29, 2022
Insider Transaction Report
Form 4
Moore Philip C
Director
Transactions
- Disposition to Issuer
Common Stock
2022-07-06−18,075→ 0 total - Disposition to Issuer
Stock Options
2022-07-06−1,930→ 0 totalExercise: $48.19Exp: 2024-05-21→ Common Stock (1,930 underlying)
Footnotes (3)
- [F1]These shares of common stock were disposed of pursuant to the Agreement and Plan of Merger, dated as of March 28, 2022 (the "Merger Agreement") by and among Neenah, Inc. ("Neenah"), Samurai Warrior Merger Sub, Inc. and Mativ Holdings, Inc. (f/k/a Schweitzer-Mauduit International, Inc., "Mativ") in exchange for shares of Mativ common stock, at a rate of 1.358 shares of Mativ common stock for each share of Neenah common stock. The closing price of Mativ common stock on the New York Stock Exchange on July 6, 2022, the effective date of the merger (the "Effective Date"), was $22.41.
- [F2]Pursuant to the Merger Agreement, on the Effective Date, these Neenah stock options automatically converted into Mativ stock options to purchase a number of shares of Mativ common stock (rounded down to the nearest whole share) equal to the product of the number of shares of Neenah common stock subject to such stock options immediately prior to the Effective Time and 1.358; provided, however, that the exercise price and the number of shares of Mativ common stock will be determined in a manner consistent with the requirements of Section 409A of the Code.
- [F3]The Stock Options are fully vested.