FIRST MARBLEHEAD CORP 4
4 · FIRST MARBLEHEAD CORP · Filed Aug 22, 2016
Insider Transaction Report
Form 4
DROTCH PETER S
Director
Transactions
- Disposition to Issuer
Common Stock
2016-08-22$5.05/sh−12,000$60,600→ 0 total - Disposition to Issuer
Stock Units
2016-08-22−300→ 0 total→ Common Stock (300 underlying) - Disposition to Issuer
Stock Units
2016-08-22−300→ 0 total→ Common Stock (300 underlying)
Footnotes (4)
- [F1]On August 22, 2016, pursuant to the Agreement and Plan of Merger among the issuer, FP Resources USA Inc. (the "Parent") and FP Resources Acquisition Corp. (the "Transitory Subsidiary"), dated June 2, 2016 (the "Merger Agreement"), the Transitory Subsidiary merged with and into the issuer (the "Merger"), with the issuer surviving the Merger as a wholly owned subsidiary of the Parent. Pursuant to the Merger Agreement, at the effective time of the Merger, the shares automatically converted into a right to receive $5.05 per share in cash.
- [F2]Each stock unit represents a fully vested right to receive one share of common stock.
- [F3]On September 20, 2006, the reporting person was granted 300 stock units and elected to defer delivery of the underlying shares until 30 days following cessation of his service as a director. Pursuant to the terms of the Merger Agreement, each stock unit was disposed of in exchange for a cash payment of $5.05 per stock unit.
- [F4]On September 20, 2007, the reporting person was granted 300 stock units and elected to defer delivery of the underlying shares until 30 days following cessation of his service as a director. Pursuant to the terms of the Merger Agreement, each stock unit was disposed of in exchange for a cash payment of $5.05 per stock unit.