RURAL LEC ACQUISITION LLC 4
4 · RURAL LEC ACQUISITION LLC · Filed Dec 20, 2004
Insider Transaction Report
Form 4
McCall Stephen Phillip
Director
Transactions
- Purchase
Membership Units
2004-12-16+615,190.8→ 7,263,634 total(indirect: See Footnote)→ Income Deposit Securities (1,922,916 underlying)
Footnotes (5)
- [F1]Conversion ratio of 3.12572 Income Deposit Securities representing shares of Class A common stock and senior subordinated notes due 2019 ("IDSs") and 0.19498 shares of Class B common stock per membership unit.
- [F2]The conversion of the membership units into IDSs and Class B common stock will take place on December 21, 2004, the expected closing date of the offering of IDSs.
- [F3]The membership units were purchased for $27,474,624 and 119,951 shares of Class B common stock of Otelco Inc.
- [F4]See Exhibit 99.1.
- [F5]These represent the same 615,190.80 membership units acquired as shown in the line above.