KERNAN JOHN T 4
4 · LIGHTSPAN INC · Filed Nov 19, 2003
Insider Transaction Report
Form 4
LIGHTSPAN INCLSPN
KERNAN JOHN T
DirectorChairman and CEO
Transactions
- Disposition to Issuer
Common Stock
2003-11-17−159,045→ 0 total - Disposition to Issuer
Employee Stock Option (right to buy)
2003-11-17−12,499→ 0 totalExercise: $40.00Exp: 2004-07-14→ Common Stock (12,499 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
2003-11-17−9,999→ 0 totalExercise: $10.40Exp: 2011-08-01→ Common Stock (9,999 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
2003-11-17−14,999→ 0 totalExercise: $7.10Exp: 2013-07-24→ Common Stock (14,999 underlying)
Footnotes (5)
- [F1]Disposed of pursuant to a merger agreement between the Issuer and PLATO Learning, Inc. ("PLATO") in exchange for 211,527 shares of PLATO common stock having a market value of $10.52 per share on the effective date of the merger (the "Merger").
- [F2]This option, which provided for one-fourth of the shares subject to the option vesting on 7/14/00, 12 months from the grant date and 1/36th of the remaining shares subject to the option vesting monthly thereafter, was cancelled on the effective date of the Merger with PLATO.
- [F3]This option, which provided for 100% of the shares subject to the option vesting on 8/2/06, five years from the grant date, was cancelled on the effective date of the Merger with PLATO in exchange for 3,474 shares of PLATO common stock, having a market value of $10.52 per share on the effective date of the Merger.
- [F4]This option, which provided for 100% of the shares subject to the option vesting on 5/13/07, five years from the grant date, was cancelled on the effective date of the Merger with PLATO in exchange for 3,757 shares of PLATO common stock, having a market value of $10.52 per share on the effective date of the Merger.
- [F5]This option, which provided for one fourth of the shares subject to the option vesting on 7/25/04, 12 months from the grant date and 1/36th of the remaining shares subject to the option vesting monthly thereafter, was cancelled on the effective date of the Merger with PLATO in exchange for 9,886 shares of PLATO common stock, having a market value of $10.52 per share on the effective date of the Merger.