Kaplan Randall S 4
4 · ARBINET Corp · Filed Mar 2, 2011
Insider Transaction Report
Form 4
ARBINET CorpARBX
Kaplan Randall S
Director
Transactions
- Disposition to Issuer
Common Stock
2011-02-28−6,250→ 0 total - Exercise/Conversion
Stock Option (Right to Buy)
2011-02-28−3,126→ 0 totalExercise: $6.88Exp: 2019-06-16→ Common Stock (3,126 underlying) - Exercise/Conversion
Common Stock
2011-02-28$6.88/sh+3,126$21,507→ 6,250 total
Footnotes (4)
- [F1]The acquisition of common stock resulted from the cash exercise of a stock option, vested as of February 28, 2011 as to 3,126 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 option exercised was issued on June 16, 2009 and reported on a Form 4 on June 18, 2009. All terms remain the same other than the vesting described in note 3 below and the pro rata adjustments resulting from the reverse stock split referenced in note 1 above.
- [F3]This option vested as to 3,126 shares upon the effective time of Arbinet Corporation's ("Arbinet") merger with Primus Telecommunications Group, Incorporated ("Primus") on February 28, 2011.
- [F4]The common stock was disposed of pursuant to the merger agreement between Arbinet and Primus in exchange for 3,635 shares of Primus common stock having a market value of $15.60 per share on the effective date of the merger.