ODonnell Shawn Francis 4
4 · ARBINET Corp · Filed Feb 23, 2011
Insider Transaction Report
Form 4
ARBINET CorpARBX
ODonnell Shawn Francis
DirectorCEO and President
Transactions
- Exercise/Conversion
Common Stock
2011-02-18$6.52/sh+18,749$122,243→ 36,422 total - Disposition to Issuer
Common Stock
2011-02-18$9.14/sh+13,679$125,026→ 22,743 total - Exercise/Conversion
Stock Appreciation Right
2011-02-18−18,749→ 0 totalExercise: $6.52Exp: 2019-02-18→ Common Stock (18,749 underlying)
Footnotes (3)
- [F1]The acquisition of common stock resulted from the exercise of a Stock Appreciation Right settled in stock, which is reportable as the acquisition of the shares exercised (18,749) and the disposition of a portion of the shares exercised to pay the exercise price (13,679), resulting in the net acquisition of 5,070 shares of common stock. The number of shares vested and the exercise price include the effect of a 1-for-4 reverse stock split, which occurred on June 11, 2010.
- [F2]The Stock Appreciation Right was issued on February 18, 2009 and reported on a Form 4 on February 20, 2009. The Stock Appreciation Right vested monthly on the 18th day of each month in 48 equal installments, beginning March 18, 2009. All terms remain the same other than the pro rata adjustments resulting from the reverse stock split referenced in note 1 above. As of February 18, 2011, the Stock Appreciation Right was vested as to 18,749 shares of common stock at an exercise price of $6.52 per share.
- [F3]Includes the effect of a 1-for-4 reverse stock split, which was effected on June 11, 2010, upon the reporting person's holdings of (a) 15,000 (split-adjusted) restricted stock units that vest in equal parts on each of April 1, 2011, April 1, 2012 and April 1, 2013; (b) 583 (split-adjusted) shares of restricted stock that vest on June 19, 2011; and (c) 7,160 (split-adjusted) shares of unrestricted common stock.