4//SEC Filing
MEDIA GENERAL INC 4
Accession 0001140361-17-002078
CIK 0000216539operating
Filed
Jan 17, 7:00 PM ET
Accepted
Jan 18, 10:18 AM ET
Size
21.9 KB
Accession
0001140361-17-002078
Insider Transaction Report
Form 4
McCormick Douglas W.
Director
Transactions
- Award
Deferred Stock Units
2017-01-17$18.51/sh+10,000$185,100→ 22,941 totalExercise: $0.00→ Voting Common Stock (no par value) (10,000 underlying) - Disposition to Issuer
Stock Option (right to buy)
2017-01-17−14,640→ 0 totalExercise: $2.46Exp: 2021-12-08→ Voting Common Stock (no par value) (14,640 underlying) - Disposition to Issuer
Voting Common Stock (no par value)
2017-01-17−205,747→ 0 total - Disposition to Issuer
Stock Option (right to buy)
2017-01-17−10,042→ 0 totalExercise: $4.49Exp: 2022-12-06→ Voting Common Stock (no par value) (10,042 underlying) - Disposition to Issuer
Deferred Stock Units
2017-01-17−22,941→ 0 totalExercise: $0.00→ Voting Common Stock (no par value) (22,941 underlying)
Footnotes (5)
- [F1]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").
- [F2]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. Each stock option granted pursuant to Media General's plans that was outstanding immediately prior to the Merger was converted into the right to receive, with respect to each share of Voting Common Stock underlying such option, (i) an option to acquire Nexstar Class A common stock (in such number as calculated in accordance with the exchange ratio set forth in the merger agreement) and (ii) a CVR.
- [F3]These options were granted under a LIN Media LLC equity incentive plan and were fully exercisable.
- [F4]These Deferred Stock Units ("DSUs") were granted in connection with the reporting person's retirement from service as a director of Media General upon the closing of the Merger.
- [F5]Each DSU was the economic equivalent of one share of Voting Common Stock. In connection with the Merger, these DSUs were converted into the right to receive the Merger Consideration at the closing of the Merger.
Documents
Issuer
MEDIA GENERAL INC
CIK 0000216539
Entity typeoperating
IncorporatedVA
Related Parties
1- filerCIK 0000216539
Filing Metadata
- Form type
- 4
- Filed
- Jan 17, 7:00 PM ET
- Accepted
- Jan 18, 10:18 AM ET
- Size
- 21.9 KB