PARTNERS TRUST FINANCIAL GROUP INC 4
4 · PARTNERS TRUST FINANCIAL GROUP INC · Filed Dec 3, 2007
Insider Transaction Report
Form 4
NIERMEYER DAVID A
Director
Transactions
- Disposition to Issuer
Non-Qualified Stock Option (right-to-buy)
2007-11-30$9.98/sh−40,568$404,869→ 0 totalExercise: $9.98Exp: 2015-04-27→ Common Stock (40,568 underlying) - Disposition to Issuer
Common Stock
2007-11-30−61,179→ 0 total - Tax Payment
Common Stock
2007-11-30$12.50/sh−4,075$50,938→ 61,179 total - Disposition to Issuer
Non-Qualified Stock Option (right-to-buy)
2007-11-30$8.47/sh−8,100$68,607→ 56,768 totalExercise: $8.47Exp: 2008-01-24→ Common Stock (8,100 underlying)
Footnotes (5)
- [F1]Disposed of pursuant to the merger agreement between issuer, M&T Bank Corporation and MTB One, Inc. pursuant to which each share is being exchanged, at the election of the holder, for either $12.50 in cash or 0.142 of a share of M&T Bank Corporation common stock, subject to proration and adjustment to ensure that the aggregate consideration in the merger will be paid 50% in cash and 50% in shares of M&T Bank Corporation common stock. On November 30, 2007, the effective date of the merger, the closing price per share of M&T Bank Corporation common stock was $90.96 per share.
- [F2]This option, which provided for vesting in 4 equal annual installments beginning 1/24/1999, was cancelled in the merger in exchange for a right to receive an amount in cash (less any applicable taxes to be deducted and withheld) equal to $32,643.00, representing the excess, if any, of $12.50 over the per share exercise price of the option times the number of shares of the issuer's common stock subject to the option.
- [F3]This option, which provided for vesting in 4 equal annual installments beginning 1/24/2000, was cancelled in the merger in exchange for a right to receive an amount in cash (less any applicable taxes to be deducted and withheld) equal to $36,531.00, representing the excess, if any, of $12.50 over the per share exercise price of the option times the number of shares of the issuer's common stock subject to the option.
- [F4]This option, which provided for vesting in 4 equal annual installments beginning 1/23/2005, was cancelled in the merger in exchange for a right to receive an amount in cash (less any applicable taxes to be deducted and withheld) equal to $15,552.00, representing the excess, if any, of $12.50 over the per share exercise price of the option times the number of shares of the issuer's common stock subject to the option.
- [F5]This option, which provided for vesting in 5 equal annual installments beginning 4/27/2006, was cancelled in the merger in exchange for a right to receive an amount in cash (less any applicable taxes to be deducted and withheld) equal to $102,231.36, representing the excess, if any, of $12.50 over the per share exercise price of the option times the number of shares of the issuer's common stock subject to the option.