Comeau Paul R 4
4 · XETA TECHNOLOGIES INC · Filed Jun 1, 2011
Insider Transaction Report
Form 4
Comeau Paul R
DirectorEx Director of Operations
Transactions
- Disposition to Issuer
Stock Options (Right to Buy)
2011-05-31−25,000→ 25,000 totalExercise: $2.90Exp: 2016-12-27→ Common Stock (0 underlying) - Disposition to Issuer
Common Stock
2011-05-31$5.50/sh−5,415$29,783→ 0 total - Disposition to Issuer
Stock Options (Right to Buy)
2011-05-31−20,000→ 0 totalExercise: $1.77Exp: 2014-12-18→ Common Stock (0 underlying) - Disposition to Issuer
Common Stock
2011-05-31$5.50/sh−8,546$47,003→ 0 total
Footnotes (4)
- [F1]Disposed of pursuant to Agreement and Plan of Merger, dated February 8, 2011, by and among XETA Technologies, Inc., PAETEC Holding Corp. and Hera Corparation; each share has been converted into the right to receive $5.50 per share (the Merger Consideration")
- [F2]Option vested in full on the effective date of the merger May 31, 2011.
- [F3]Each vested option was cancelled and converted into the right to receive a cash per share payment equal to the product of (i) the excess of the Merger Consideration over the applicable exercise price of such option and (ii) the number of shares of the Company's common stock issuable upon exercise of the option less any applicable withholding taxes.
- [F4]50% of the total number of shares covered by such option vested on the effective date of the merger May 31, 2011; the remaining 50% of the shares covered by such option were forfeited upon cancellation of the option.