4//SEC Filing
NATIONAL TECHNICAL SYSTEMS INC /CA/ 4
Accession 0001140361-13-044291
CIK 0000110536operating
Filed
Nov 25, 7:00 PM ET
Accepted
Nov 26, 7:40 PM ET
Size
6.4 KB
Accession
0001140361-13-044291
Insider Transaction Report
Form 4
EL HILLOW MICHAEL
CHIEF FINANCIAL OFFICER
Transactions
- Disposition to Issuer
Phantom Stock Appreciation Rights
2013-11-22−125,000→ 0 totalExercise: $7.50Exp: 2013-11-27→ Common Stock (125,000 underlying)
Footnotes (1)
- [F1]In connection with the consummation of the transactions contemplated by the Agreement and Plan of Merger, dated as of August 15, 2013, between National Technical Systems, Inc. (the "Company"), Nest Parent, Inc. and Nest Merger Sub, Inc., each vested phantom stock appreciation right was canceled and converted into the right to receive a cash payment representing the amount, if any, by which $23.00 exceeded the applicable grant price per phantom stock appreciation right. On October 23, 2012, the compensation committee of the Company's board of directors exercised its discretion to accelerate the vesting of all phantom stock appreciation rights in connection with a change of control occurring before October 23, 2014. Accordingly, all outstanding and unvested phantom stock appreciation rights vested upon the consummation of the transactions contemplated by the Merger Agreement and were cancelled in exchange for the aforementioned consideration.
Documents
Issuer
NATIONAL TECHNICAL SYSTEMS INC /CA/
CIK 0000110536
Entity typeoperating
IncorporatedCA
Related Parties
1- filerCIK 0000110536
Filing Metadata
- Form type
- 4
- Filed
- Nov 25, 7:00 PM ET
- Accepted
- Nov 26, 7:40 PM ET
- Size
- 6.4 KB