PARTNERS TRUST FINANCIAL GROUP INC 4
4 · PARTNERS TRUST FINANCIAL GROUP INC · Filed Dec 3, 2007
Insider Transaction Report
Form 4
CALLAHAN RICHARD F
SVP/Asst. Corp. Sec.
Transactions
- Disposition to Issuer
Non-Qualified Stock Option (right-to-buy)
2007-11-30$9.98/sh−90,000$898,200→ 0 totalExercise: $9.98Exp: 2015-04-27→ Common Stock (90,000 underlying) - Tax Payment
Common Stock
2007-11-30$12.50/sh−16,429$205,363→ 147,304 total - Disposition to Issuer
Common Stock
2007-11-30−11,531→ 0 total(indirect: by ESOP) - Disposition to Issuer
Common Stock
2007-11-30−147,304→ 0 total - Disposition to Issuer
Incentive Stock Option (right-to-buy)
2007-11-30$18.00/sh−3,900$70,200→ 95,851 totalExercise: $18.00Exp: 2014-03-01→ Common Stock (3,900 underlying) - Disposition to Issuer
Non-Qualified Stock Option (right-to-buy)
2007-11-30$18.00/sh−5,851$105,318→ 90,000 totalExercise: $18.00Exp: 2014-03-01→ Common Stock (5,851 underlying) - Disposition to Issuer
Non-Qualified Stock Option (right-to-buy)
2007-11-30$6.79/sh−4,417$29,991→ 99,751 totalExercise: $6.79Exp: 2012-10-10→ Common Stock (4,417 underlying)
Footnotes (7)
- [F1]Amount of securities beneficially owned following reported transaction(s): 147,304 - direct; 11,531 - indirect by ESOP
- [F2]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.
- [F3]Amount of securities beneficially owned following reported transaction(s): 0 - direct; 11,531 - indirect by ESOP
- [F4]Amount of securities beneficially owned following reported transaction(s): 0 - direct; 0 - indirect by ESOP
- [F5]This option, which provided for vesting in 5 equal annual installments beginning 10/10/2003, 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 $25,221.07, 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.
- [F6]This option, which provided for vesting in 5 equal annual installments beginning 3/1/2005, 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 $0, 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.
- [F7]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 $226,800.00, 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.