VALLEY FINANCIAL CORP /VA/ 4
4 · VALLEY FINANCIAL CORP /VA/ · Filed Jul 1, 2015
Insider Transaction Report
Form 4
Snyder Kimberly B
EVP/CFO
Transactions
- Disposition to Issuer
Common Stock
2015-07-01−8,364→ 0 total - Disposition to Issuer
Employee Stock Option
2015-07-01−4,000→ 0 totalExercise: $10.63Exp: 2023-10-17→ Common Stock (4,000 underlying)
Footnotes (2)
- [F1]Effective July 1, 2015, pursuant to an Agreement and Plan of Reorganization, dated as of November 17, 2014 (the "Merger Agreement"), by and among Valley Financial Corp and BNC Bancorp, Valley Financial Corp merged with and into BNC Bancorp, with BNC Bancorp as the surviving company (the "Merger"). In the Merger, each share of Valley Financial Corp's common stock converted into 1.1081 shares of BNC Bancorp's common stock.
- [F2]This option, which provided for vesting in five equal annual installments beginning October 18, 2014, was cancelled in the merger in exchange for a cash payment of $42,120, representing the difference between the exercise price of the option and the imputed cash value per share of Valley Financial Corp common stock based upon exchange ratio of 1.1081 ($21.16 per share).