WEST COAST BANCORP /NEW/OR/ 4
4 · WEST COAST BANCORP /NEW/OR/ · Filed Apr 3, 2013
Insider Transaction Report
Form 4
SPENCE STEVEN N
Director
Transactions
- Disposition to Issuer
Stock Option (right to buy)
2013-04-01−260→ 0 totalExercise: $137.50From: 2006-04-25Exp: 2016-04-25→ Common Stock (260 underlying) - Disposition to Issuer
Stock Option (right to buy)
2013-04-01−1,920→ 0 totalExercise: $11.55From: 2009-04-28Exp: 2019-04-28→ Common Stock (1,920 underlying) - Disposition to Issuer
Phantom Stock
2013-04-01−276→ 0 totalFrom: 2013-04-01Exp: 2013-04-01→ Common Stock (276 underlying) - Disposition to Issuer
Common Stock
2013-04-01−10,540→ 0 total - Disposition to Issuer
Common Stock
2013-04-01−1,054→ 0 total(indirect: By Spouse) - Disposition to Issuer
Stock Option (right to buy)
2013-04-01−430→ 0 totalExercise: $63.75From: 2008-04-22Exp: 2018-04-22→ Common Stock (430 underlying)
Footnotes (6)
- [F1]1,050 of these shares represent restricted stock which became fully vested by virtue of the merger. All shares were cancelled and converted into the right to receive the Merger Consideration (defined below) pursuant to the Agreement and Plan of Merger, dated as of September 25, 2012, by and among Columbia Banking System, Inc. ("Columbia"), West Coast Bancorp ("West Coast"), and a wholly owned subsidiary of Columbia (the "Merger Agreement").
- [F2]Pursuant to the terms of the Merger Agreement, the holder had the right to elect to receive consideration of either: (i) cash in an amount of $24.11 per share (the "Per Share Cash Consideration") for each share held, or (ii) a number of shares of Columbia common stock having a value equal to the Per Share Cash Consideration, or (iii) a mix of cash and Columbia common stock having a value equal to the Per Share Cash Consideration (the "Merger Consideration").
- [F3]These options, which became exercisable on April 25, 2006, were cancelled in the merger in exchange for 303 vested options to purchase shares of Columbia common stock for $117.97 per share.
- [F4]These options, which became exercisable on April 22, 2008, were cancelled in the merger in exchange for 501 vested options to purchase shares of Columbia common stock for $54.70 per share.
- [F5]These options, which became exercisable on April 28, 2009, were cancelled in the merger in exchange for 2,237 vested options to purchase shares of Columbia common stock for $9.91 per share.
- [F6]Contract right having value equivalent to the indicated number of underlying shares of West Coast common stock.