ROTHWELL ALLAN R 4
4 · OMNOVA SOLUTIONS INC · Filed Apr 1, 2020
Insider Transaction Report
Form 4
ROTHWELL ALLAN R
Director
Transactions
- Disposition to Issuer
Phantom Shares
2020-04-01$10.15/sh−47,819.015$485,363→ 0 total(indirect: By Plan)→ Common Shares (47,819.015 underlying) - Disposition to Issuer
Restricted Share Units
2020-04-01$10.15/sh−85,645$869,297→ 0 total→ Common Shares (85,645 underlying)
Footnotes (3)
- [F1]On July 3, 2019, OMNOVA Solutions Inc. ("OMNOVA") announced it had entered into an Agreement and Plan of Merger (the "Merger Agreement") with Synthomer plc, Spirit USA Holdings Inc., and Synthomer USA LLC, pursuant to which the Company would merge with and into Spirit USA Holdings Inc., a wholly-owned subsidiary of Synthomer, subject to shareholder and regulatory approvals and other customary conditions (the "Merger"). The Merger became effective on April 1, 2020. Under the terms of the Merger Agreement, each unvested restricted share unit granted by OMNOVA was converted into the right to receive $10.15 in cash, without interest (the "Merger Consideration").
- [F2]The Merger became effective on April 1, 2020.
- [F3]Under the terms of the Merger Agreement, each phantom share issued by OMNOVA was converted into the right to receive the Merger Consideration.