MCMURREY ROBERT M 4
4 · TELETOUCH COMMUNICATIONS INC · Filed Aug 15, 2011
Insider Transaction Report
Form 4
MCMURREY ROBERT M
DirectorChief Executive Officer10% Owner
Transactions
- Sale
Common Stock
2011-08-11−15,000,000→ 15,650,999 total(indirect: By TLL Partners, L.L.C.) - Sale
Common Stock
2011-08-11−10,000,000→ 5,650,999 total(indirect: By TLL Partners, L.L.C.) - Sale
Common Stock
2011-08-11−2,000,000→ 3,650,999 total(indirect: By TLL Partners, L.L.C.) - Purchase
Call Option (right to buy)
2011-08-11+25,000,000→ 25,000,000 total(indirect: By TLL Partners, L.L.C.)Exercise: $1.00From: 2011-08-16Exp: 2012-11-16→ Common Stock (25,000,000 underlying) - Sale
Put Option (obligation to buy)
2011-08-11−25,000,000→ 25,000,000 total(indirect: By TLL Partners, L.L.C.)Exercise: $1.00From: 2012-11-17Exp: 2012-12-16→ Common Stock (25,000,000 underlying)
Holdings
- 1,200,000(indirect: By Rainbow Resources, Inc.)
Common Stock
- 40,442
Common Stock
Footnotes (4)
- [F1]As part of a settlement of various matters, TLL Partners, L.L.C. ("TLLP") transferred 15 million shares of Common Stock to one of its members (i) in redemption of all outstanding Series A Preferred Unit membership interests (the "Preferred Units") in TLLP held by that member and (ii) the further consideration of a cash payment by that member to TLLP in the amount of $2,250,000.
- [F2]As part of a settlement of various matters, TLLP transferred 10 million shares of Common Stock to one of its members (i) in redemption of all outstanding Preferred Units in TLLP held by that member and (ii) the further consideration of a cash payment by that member to TLLP in the amount of $1,500,000.
- [F3]As part of a settlement of various matters, TLLP paid $3,290,000 and transferred 2 million shares of Common Stock to its senior lender in full settlement of all obligations then outstanding under its senior loan agreement.
- [F4]As part of a settlement of various matters, the total 25 million shares of Common Stock described in notes (1) and (2) above are subject to (i) a call option in favor of TLLP which will permit TLLP for a period of 15 months to purchase some or all of such shares at an exercise price of $1.00 per share, and (b) a put option in favor of the 2 former members referenced above to sell to TLLP for thirty 30 days following the conclusion of the 15-month option period some or all of such shares then held by those former members at an exercise price $1.00 per share. Beginning on March 17, 2012, the former members are free to distribute, sell or otherwise dispose of the shares subject to the call option. If they do so, the number of shares subject to the call option and the put option will be reduced on a share-for-share basis.