DEBAPTISTE CLIFFORD D 4
4 · TOWER BANCORP INC · Filed Feb 21, 2012
Insider Transaction Report
Form 4
DEBAPTISTE CLIFFORD D
Director
Transactions
- Disposition to Issuer
Common Stock
2012-02-17−50,105→ 0 total - Disposition to Issuer
Common Stock
2012-02-17−783→ 0 totalExercise: $35.74From: 2010-12-10Exp: 2012-09-30→ Common Stock (783 underlying) - Disposition to Issuer
Common Stock
2012-02-17−1,530→ 0 total(indirect: By IRA)
Footnotes (2)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger between Susquehanna Bancshares, Inc. ("Susquehanna") and issuer, dated June 20, 2011, as amended September 28, 2011 (the "Merger Agreement"), pursuant to which issuer was merged with and into Susquehanna (the "Merger"). Pursuant to the Merger, each share of issuer was exchanged for 3.4696 shares of Susquehanna common stock or $28.00, at each stockholder's election and subject to proration and allocation procedures described in the Merger Agreement. As a result of the Merger, the reporting person no longer beneficially owns directly or indirectly any shares of issuer common stock.
- [F2]Pursuant to the Merger Agreement, each option granted by issuer to purchase shares of issuer's common stock which was outstanding and unexercised immediately prior to the effective time of the Merger, automatically converted into a right to purchase shares of Susquehanna common stock, with the number of underlying shares and the exercise price determined per the Merger Agreement, and subject to the terms of the issuer's stock plans.