SAWITSKY JOSEPH M 4
4 · METROLOGIC INSTRUMENTS INC · Filed Dec 26, 2006
Insider Transaction Report
Form 4
SAWITSKY JOSEPH M
Vice President Manufacturing
Transactions
- Disposition to Issuer
Non-Qualified Stock Option
2006-12-21−25,000→ 0 totalExercise: $20.16From: 2006-12-21Exp: 2016-02-22→ Common Stock (25,000 underlying) - Disposition to Issuer
Incentive Stock Option
2006-12-21−35,000→ 0 totalExercise: $20.10From: 2006-12-21Exp: 2015-01-05→ Common Stock (35,000 underlying)
Footnotes (3)
- [F1]Immediately prior to the effective time of the merger of Meteor Merger Corp. with and into the Issuer, the options became fully vested and were cancelled. In exchange for cancellation of the options, the Issuer paid to the Reporting Person either (i) $1 for each grant of options, if the exercise price of the options was equal to or greater than the merger consideration of $18.50 or (ii) an amount equal to the excess of the merger consideration ($18.50) over the exercise price multiplied by the number of shares of common stock subject to the option, less any required wihholding, if the exercise price of the option was less than the merger consideration of $18.50.
- [F2]Prior to 12/21/06, such option became vested and exercisable with respect to 1/4 of the shares underlying such option on 1/5/06 and would become vested and exercisable with respect to the remaining shares underlying such option in equal installments on each one-year anniversary of 1/5/06 until 1/5/09, at which time such option would be fully vested and exercisable.
- [F3]Prior to 12/21/06, such option became vested and exercisable with respect to 1/5 of the shares underlying such option on 2/22/06 and would become vested and exercisable with respect to the remaining shares underlying such option in equal installments on each one-year anniversary of 2/22/06 until 2/22/10, at which time such option would be fully vested and exercisable.