MIDDLEBURG FINANCIAL CORP 4
4 · MIDDLEBURG FINANCIAL CORP · Filed Apr 4, 2017
Insider Transaction Report
Form 4
Mehra Rajesh
EVP & Chief Financial Officer
Transactions
- Tax Payment
Common Stock
2017-04-01$40.04/sh−4,331$173,413→ 16,811 total - Disposition to Issuer
Employee Stock Option
2017-04-01$26.04/sh−5,000$130,200→ 0 totalExercise: $14.00Exp: 2019-11-01→ Common Stock (5,000 underlying) - Disposition to Issuer
Common Stock
2017-04-01−16,811→ 0 total
Footnotes (2)
- [F1]Effective April 1, 2017, pursuant to an Agreement and Plan of Reorganization, dated as of October 21, 2016 (the "Merger Agreement"), by and among Middleburg Financial Corporation ("Middleburg") and Access National Corporation ("Access"), Middleburg merged with and into Access, with Access as the surviving company (the "Merger"). In the Merger, each share of Middleburg's common stock converted into 1.3314 shares of Access's common stock.
- [F2]This option, which vested 25% on November 2, 2010, 25% on November 2, 2011 and the remaining 50% on November 2, 2012, was cancelled in the merger in exchange for a cash payment of $130,200, representing the difference between the closing price of Middleburg common stock on March 31, 2017 of $40.04 and the exercise price of the option.