Panella L. Mark 4
4 · Danvers Bancorp, Inc. · Filed Jul 5, 2011
Insider Transaction Report
Form 4Exit
Panella L. Mark
Treasurer and CFO
Transactions
- Disposition to Issuer
Common Stock
[F1]2011-06-30−42,866→ 0 total - Disposition to Issuer
Common Stock
[F1]2011-06-30−9,402→ 0 total(indirect: By 401(k)) - Disposition to Issuer
Common Stock
[F1]2011-06-30−3,145→ 0 total(indirect: By ESOP) - Disposition to Issuer
Option to Buy
[F2]2011-06-30−71,200→ 0 totalExercise: $13.00From: 2010-02-09Exp: 2019-02-09→ Common Stock (71,200 underlying)
Footnotes (2)
- [F1]Each share has been converted into the right to receive either (a) $23.00 in cash ("Cash Consideration") or (b) 1.624 shares of People's United Financial, Inc. ("People's United") common stock at the election of each Danvers stockholder, subject to proration limitations on the aggregate amount of Cash Consideration to be paid by People's United as specified in the Agreement and Plan of Merger dated as of January 20, 2011 between Danvers Bancorp, Inc. and People's United.
- [F2]Each option was cancelled and converted into the right to receive an amount in cash equal to the product of (i) the excess, if any, of (x) Cash Consideration over (y) the applicable exercise price of such option, and (ii) the total number of shares of Danvers common stock issuable upon exercise of the option, less any applicable withholding taxes.
Signature
/s/ Michael W. McCurdy, Attorney-in-Fact|2011-07-05