Waddock Nicholas John III 4
4 · FIRST BUSEY CORP /NV/ · Filed Nov 2, 2009
Insider Transaction Report
Form 4
Waddock Nicholas John III
EVP, Chief Credit Officer
Transactions
- Purchase
Series A Convertible Preferred Stock
2009-10-29$100000.00/sh+0.75$75,000→ 0.75 total→ Common
Footnotes (1)
- [F1]On October 29, 2009, the reporting person purchased .75 shares of Series A Convertible Preferred Stock ("Preferred Stock") from the Company. The Preferred Stock is perpetual and each share has a liquidation preference of $100,000. The Preferred Stock is mandatorily convertible into shares of common stock at a conversion price of $4.00. The shares of Preferred Stock will convert automatically following Stockholder approval of the conversion. The Company is holding a Special Meeting of Stockholders on December 2, 2009 for that purpose. Therefore, if Stockholder approval is received at the Special Meeting, the reporting person will receive 18,750 shares of common stock upon the conversion of the Preferred Stock.