4//SEC Filing
Hawk Keith Scotty 4
Accession 0001179110-04-024085
CIK 0001288359other
Filed
Dec 22, 7:00 PM ET
Accepted
Dec 23, 5:40 PM ET
Size
16.0 KB
Accession
0001179110-04-024085
Insider Transaction Report
Form 4
OTELCO INC.OTT
Hawk Keith Scotty
Senior Vice President
Transactions
- Conversion
Class A Common Stock
2004-12-21+7,747→ 7,747 total - Sale
Class B Common Stock
2004-12-21−483→ 0 total→ Income Deposit Securities (483 underlying) - Sale
Class A Common Stock
2004-12-21$14.29/sh−2,809$40,135→ 4,938 total - Conversion
Class B Common Stock
2004-12-21+483→ 483 total→ Income Deposit Securities (483 underlying) - Other
Options
2004-12-21−5,500→ 0 total→ Income Deposit Securities (7,747 underlying)
Footnotes (10)
- [F1]The reported securities are included within 7,747 Income Deposit Securities ("IDSs"). Each IDS consists of one share of Class A common stock and one 13% senior subordinated note due 2019 with a $7.50 principal amount.
- [F10]The Class B common stock was repurchased by the issuer for $14.288 per share of Class B common stock.
- [F2]This is the sale price of the IDSs set forth in the repurchase agreement relating to the sale of the IDSs.
- [F3]Exchange ratio of 1.40855 IDSs and 0.08782 shares of Class B common stock per option.
- [F4]Pursuant to an option exchange agreement, the options were exchanged for IDSs and Class B common stock in connection with the issuer's conversion from a limited liability company to a corporation.
- [F5]The options were exchanged for IDSs and Class B common stock on December 21, 2004, the closing date of the offering of the IDSs.
- [F6]These represent the same 5,500 options disposed of as shown in the line above.
- [F7]The Class B common stock will be exchangable for IDSs beginning on December 21, 2006, subject to the satisfaction of certain conditions, including a financial test set forth in an investor rights agreement.
- [F8]None.
- [F9]The Class B common stock will be exchangable for IDSs on a 1 for 1 basis, subject to adjustment.
Documents
Issuer
OTELCO INC.
CIK 0001288359
Entity typeother
Related Parties
1- filerCIK 0001310253
Filing Metadata
- Form type
- 4
- Filed
- Dec 22, 7:00 PM ET
- Accepted
- Dec 23, 5:40 PM ET
- Size
- 16.0 KB