McCarter Thomas N III 4
4 · SOUTHERN UNION CO · Filed Feb 15, 2005
Insider Transaction Report
Form 4
McCarter Thomas N III
Director
Transactions
- Purchase
Purchase Contract
2005-02-11$50.00/sh+200$10,000→ 200 total→ Common Stock
Footnotes (2)
- [F1]The purchase contract, together with a 5% undivided beneficial interest in $1,000 principal amount of a Southern Union senior note due February 16, 2008, comprise a Southern Union Corporate Unit. The purchase contract obligates the Reporting Person to purchase from Southern Union, no later that February 16, 2008, for a price of $50 in cash, the following number of shares of Southern Union common stock, subject to anti-dilution adjustments: If the average closing price of Southern Union common stock over the 20-day period ending on the third trading day prior to February 16, 2008 equals or exceeds $30.7625, 1.6254 shares; if the average closing price of Southern Union common stock over the same period is less than $30.7625 but greater than $24.61, a number of shares having a value, based on the average closing price, equal to $50: and if the average closing price of Southern Union common stock over the same period is less than or equal to $24.61, 2.0317 shares.
- [F2]The reporting person directly owns 1,000 shares of common stock.