MEDIA GENERAL INC 4
4 · MEDIA GENERAL INC · Filed Jan 18, 2017
Insider Transaction Report
Form 4
MCDERMOTT DEBORAH A
Senior Vice President
Transactions
- Disposition to Issuer
Time-Based Restricted Stock Units
2017-01-17−13,449→ 0 totalExercise: $0.00→ Voting Common Stock (no par value) (13,449 underlying) - Disposition to Issuer
Performance-Based Restricted Stock Units
2017-01-17−40,347→ 0 totalExercise: $0.00→ Voting Common Stock (no par value) (40,347 underlying)
Footnotes (4)
- [F1]Of these 40,347 Performance-Based Restricted Stock Units granted under the Media General Amended and Restated Long-Term Incentive Plan, 13,449 and 26,898 were scheduled to vest on February 26, 2017 and February 26, 2018, respectively, contingent upon achievement of performance metrics designated by the Compensation Committee of the Board of Directors at the beginning of each year.
- [F2]On January 17, 2017, Media General, Inc. ("Media General") and Nexstar Broadcasting Group, Inc. ("Nexstar") consummated a business transaction (the "Merger") which resulted in Media General merging with a wholly owned subsidiary of Nexstar and Media General ultimately surviving as a wholly owned subsidiary of Nexstar. Pursuant to the Merger, each outstanding share of voting common stock, no par value per share, of Media General (the "Voting Common Stock"), was converted into the right to receive (x) $10.55 in cash, without interest, (y) one contractual contingent value right to be issued by Nexstar (a "CVR") and (z) 0.1249 of a share of Nexstar Class A common stock (together, the "Merger Consideration").
- [F3]Each equity and equity-based award (other than stock options) granted pursuant to Media General's plans that was outstanding immediately prior to the Merger was cancelled and converted into the right to receive the Merger Consideration with respect to each share of Voting Common Stock underlying such award.
- [F4]Of these 13,449 Time-Based Restricted Stock Units granted under the Media General Amended and Restated Long-Term Incentive Plan, 4,483 and 8,966 were scheduled to vest on February 26, 2017 and February 26, 2018, respectively.