4//SEC Filing
PARTNERS TRUST FINANCIAL GROUP INC 4
Accession 0001163345-07-000118
CIK 0001163345operating
Filed
Dec 2, 7:00 PM ET
Accepted
Dec 3, 3:28 PM ET
Size
8.2 KB
Accession
0001163345-07-000118
Insider Transaction Report
Form 4
Linn Robert H.
Director
Transactions
- Disposition to Issuer
Non-Qualified Stock Option (right-to-buy)
2007-11-30$10.90/sh−10,000$109,000→ 0 totalExercise: $10.90Exp: 2016-09-27→ Common Stock (10,000 underlying) - Disposition to Issuer
Common Stock
2007-11-30−4,250→ 0 total
Footnotes (3)
- [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]Non-Derivative securities are owned jointly with spouse.
- [F3]This option, which provided for vesting in 5 equal annual installments beginning 9/27/2007, 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 $16,000.00, 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.
Documents
Issuer
PARTNERS TRUST FINANCIAL GROUP INC
CIK 0001163345
Entity typeoperating
Related Parties
1- filerCIK 0001163345
Filing Metadata
- Form type
- 4
- Filed
- Dec 2, 7:00 PM ET
- Accepted
- Dec 3, 3:28 PM ET
- Size
- 8.2 KB