4//SEC Filing
COLLIS JAMES J 4
Accession 0001179110-04-024088
CIK 0001288359other
Filed
Dec 22, 7:00 PM ET
Accepted
Dec 23, 5:43 PM ET
Size
28.1 KB
Accession
0001179110-04-024088
Insider Transaction Report
Form 4
OTELCO INC.OTT
Seaport Investments, LLC
10% Owner
Transactions
- Conversion
Class A Common Stock
2004-12-21+3,862,849→ 3,862,849 total(indirect: See Footnote) - Sale
Class A Common Stock
2004-12-21$14.29/sh−3,664,431$52,357,390→ 198,418 total(indirect: See Footnote) - Conversion
Class B Common Stock
2004-12-21+240,963→ 240,963 total(indirect: See Footnote)→ Income Deposit Securities (240,963 underlying) - Conversion
Membership Units
2004-12-21−1,235,825.73→ 0 total(indirect: See Footnote)→ Income Deposit Securities (3,862,849 underlying) - Sale
Class B Common Stock
2004-12-21−119,950→ 121,013 total(indirect: See Footnote)→ Income Deposit Securities (119,950 underlying)
CEA Investment Partners II, LLC
10% Owner
Transactions
- Conversion
Class B Common Stock
2004-12-21+240,963→ 240,963 total(indirect: See Footnote)→ Income Deposit Securities (240,963 underlying) - Sale
Class A Common Stock
2004-12-21$14.29/sh−3,664,431$52,357,390→ 198,418 total(indirect: See Footnote) - Sale
Class B Common Stock
2004-12-21−119,950→ 121,013 total(indirect: See Footnote)→ Income Deposit Securities (119,950 underlying) - Conversion
Class A Common Stock
2004-12-21+3,862,849→ 3,862,849 total(indirect: See Footnote) - Conversion
Membership Units
2004-12-21−1,235,825.73→ 0 total(indirect: See Footnote)→ Income Deposit Securities (3,862,849 underlying)
Seaport Capital Partners II, L.P.
10% Owner
Transactions
- Sale
Class A Common Stock
2004-12-21$14.29/sh−3,664,431$52,357,390→ 198,418 total(indirect: See Footnote) - Conversion
Membership Units
2004-12-21−1,235,825.73→ 0 total(indirect: See Footnote)→ Income Deposit Securities (3,862,849 underlying) - Conversion
Class A Common Stock
2004-12-21+3,862,849→ 3,862,849 total(indirect: See Footnote) - Sale
Class B Common Stock
2004-12-21−119,950→ 121,013 total(indirect: See Footnote)→ Income Deposit Securities (119,950 underlying) - Conversion
Class B Common Stock
2004-12-21+240,963→ 240,963 total(indirect: See Footnote)→ Income Deposit Securities (240,963 underlying)
Luby William K
10% Owner
Transactions
- Conversion
Class B Common Stock
2004-12-21+240,963→ 240,963 total(indirect: See Footnote)→ Income Deposit Securities (240,963 underlying) - Conversion
Class A Common Stock
2004-12-21+3,862,849→ 3,862,849 total(indirect: See Footnote) - Conversion
Membership Units
2004-12-21−1,235,825.73→ 0 total(indirect: See Footnote)→ Income Deposit Securities (3,862,849 underlying) - Sale
Class A Common Stock
2004-12-21$14.29/sh−3,664,431$52,357,390→ 198,418 total(indirect: See Footnote) - Sale
Class B Common Stock
2004-12-21−119,950→ 121,013 total(indirect: See Footnote)→ Income Deposit Securities (119,950 underlying)
Seaport Associates, LLC
10% Owner
Transactions
- Conversion
Class A Common Stock
2004-12-21+3,862,849→ 3,862,849 total(indirect: See Footnote) - Sale
Class A Common Stock
2004-12-21$14.29/sh−3,664,431$52,357,390→ 198,418 total(indirect: See Footnote) - Conversion
Membership Units
2004-12-21−1,235,825.73→ 0 total(indirect: See Footnote)→ Income Deposit Securities (3,862,849 underlying) - Conversion
Class B Common Stock
2004-12-21+240,963→ 240,963 total(indirect: See Footnote)→ Income Deposit Securities (240,963 underlying) - Sale
Class B Common Stock
2004-12-21−119,950→ 121,013 total(indirect: See Footnote)→ Income Deposit Securities (119,950 underlying)
COLLIS JAMES J
10% Owner
Transactions
- Sale
Class B Common Stock
2004-12-21−119,950→ 121,013 total(indirect: See Footnote)→ Income Deposit Securities (119,950 underlying) - Conversion
Class B Common Stock
2004-12-21+240,963→ 240,963 total(indirect: See Footnote)→ Income Deposit Securities (240,963 underlying) - Conversion
Membership Units
2004-12-21−1,235,825.73→ 0 total(indirect: See Footnote)→ Income Deposit Securities (3,862,849 underlying) - Conversion
Class A Common Stock
2004-12-21+3,862,849→ 3,862,849 total(indirect: See Footnote) - Sale
Class A Common Stock
2004-12-21$14.29/sh−3,664,431$52,357,390→ 198,418 total(indirect: See Footnote)
Footnotes (10)
- [F1]The reported securities are included within 3,862,849 Income Deposit Securities ("IDSs") automatically issued upon conversion of the issuer from a limited liability company to a corporation. 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]These represent the same 1,235,825.73 membership units disposed of as shown in the line above.
- [F2]See Exhibit 99.1.
- [F3]Included in the sale of 3,664,431 IDSs that each consisted of one share of Class A common stock and one 13% senior subordinated note due 2019 with a $7.50 principal amount.
- [F4]This is the sale price of the IDSs set forth in the Underwriting Agreement dated December 16, 2004, relating to the sale of the IDSs.
- [F5]Conversion ratio of 3.12572 IDSs and 0.19498 shares of Class B common stock per membership unit.
- [F6]The membership units converted into IDSs and Class B common stock on December 21, 2004, the closing date of the offering of IDSs.
- [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.
Issuer
OTELCO INC.
CIK 0001288359
Entity typeother
Related Parties
1- filerCIK 0001208930
Filing Metadata
- Form type
- 4
- Filed
- Dec 22, 7:00 PM ET
- Accepted
- Dec 23, 5:43 PM ET
- Size
- 28.1 KB