PENN ENGINEERING & MANUFACTURING CORP 4
4 · PENN ENGINEERING & MANUFACTURING CORP · Filed May 31, 2005
Insider Transaction Report
Form 4
CHARLES R SMITH PROF
Director
Transactions
- Disposition to Issuer
Directors Stock Option Plan
2005-05-25−5,000→ 0 totalExercise: $11.00From: 1999-12-14Exp: 2008-12-14→ Common Stock (5,000 underlying)
Footnotes (1)
- [F1]Cash-Out of Stock Options: Pursuant to the Agreement and Plan of Merger, dated as of January 17, 2005, as amended as of May 10, 2005, by and among PEM Holding Co., PN Merger Sub, Inc. and Penn Engineering & Manufacturing Corp. (the "Company"), this option was canceled in exchange for a cash payment of $18.25 by the Company, representing the difference between the exercise price of the option and the $18.25 per share merger consideration.