Desai Pankit 4
4 · INTELLIGROUP INC · Filed Jul 22, 2010
Insider Transaction Report
Form 4
INTELLIGROUP INCITIG
Desai Pankit
Senior Vice President Sales
Transactions
- Disposition to Issuer
Common Stock Options (right to buy)
2010-07-20$3.05/sh−12,500$38,125→ 0 totalExercise: $1.60Exp: 2016-08-08→ Common Stock, $0.01 par value per share (12,500 underlying) - Disposition from Tender
Common Stock, $0.01 par value per share
2010-07-20$4.65/sh−14,500$67,425→ 0 total - Disposition to Issuer
Common Stock Options (right to buy)
2010-07-20$3.13/sh−50,000$156,500→ 0 totalExercise: $1.52Exp: 2015-12-12→ Common Stock, $0.01 par value per share (50,000 underlying)
Footnotes (2)
- [F1]Pursuant to the Agreement and Plan of Merger by and among NTT Data Corporation ("Parent"), Mobius Subsidiary Corporation ("Purchaser") and Intelligroup, Inc. (the "Company") dated as of June 14, 2010 (the "Merger Agreement"), on July 20, 2010, the Purchaser purchased all of the issued and outstanding shares of common stock, par value $0.01 per share, of the Company (the "Shares"), that were validly tendered and not withdrawn at a purchase price of $4.65 per Share, net to the seller in cash.
- [F2]Pursuant to the Merger Agreement, each option to purchase shares of the Company's common stock was automatically cancelled and converted into the right to receive a cash payment (without interest) equal to the product of (i) the excess, if any, of (x) the Per Share Amount (as defined in the Merger Agreement) over (y) the per share exercise price of such option, and (ii) the number of shares of common stock that were issuable upon exercise of such option immediately prior to the Effective Time (as defined in the Merger Agreement).