PARTNERS TRUST FINANCIAL GROUP INC 4
4 · PARTNERS TRUST FINANCIAL GROUP INC · Filed Dec 3, 2007
Insider Transaction Report
Form 4
ZAWADZKI JOHN A
DirectorPresident & CEO
Transactions
- Disposition to Issuer
Common Stock
2007-11-30−14,414→ 0 total(indirect: by ESOP) - Disposition to Issuer
Common Stock
2007-11-30−5,546→ 0 total(indirect: By 401(k)) - Disposition to Issuer
Non-Qualified Stock Options (right-to-buy)
2007-11-30$9.98/sh−275,000$2,744,500→ 0 totalExercise: $9.98Exp: 2015-04-27→ Common Stock (275,000 underlying) - Disposition to Issuer
Non-Qualified Stock Options (right-to-buy)
2007-11-30$6.79/sh−166,184$1,128,389→ 275,000 totalExercise: $6.79Exp: 2012-10-10→ Common Stock (166,184 underlying) - Tax Payment
Common Stock
2007-11-30$12.50/sh−38,983$487,288→ 222,046 total - Disposition to Issuer
Common Stock
2007-11-30−222,046→ 0 total - Disposition to Issuer
Common Stock
2007-11-30−44,004→ 0 total(indirect: By IRA)
Footnotes (8)
- [F1]Amount of securities beneficially owned following reported transaction(s): 222,046 - direct; 44,004 - indirect by IRA; 5,546 - indirect by 401K; 14,414 - 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; 44,004 - indirect by IRA; 5,546 - indirect by 401K; 14,414 - indirect by ESOP
- [F4]Amount of securities beneficially owned following reported transaction(s): 0 - direct; 0 - indirect by IRA; 5,546 - indirect by 401K; 14,414 - indirect by ESOP
- [F5]Amount of securities beneficially owned following reported transaction(s): 0 - direct; 0 - indirect by IRA; 0 - indirect by 401K; 14,414 - indirect by ESOP
- [F6]Amount of securities beneficially owned following reported transaction(s): 0 - direct; 0 - indirect by IRA; 0 - indirect by 401K; 0 - indirect by ESOP
- [F7]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 $948,910.64, 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.
- [F8]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 $693,000.00, 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.