Gard Greg E 4
4 · PLIANT CORPORORATION · Filed Apr 19, 2007
Insider Transaction Report
Form 4
Gard Greg E
Senior Vice President
Transactions
- Award
Series M Preferred Stock
2007-04-17$20.00/sh+60$1,200→ 115 total→ Common Stock
Footnotes (3)
- [F1]The Series M Preferred Stock automatically converts, upon the consummation of a Qualified Public Offering (as defined in the Company's Amended and Restated Certificate of Incorporation (the "Certificate of Incorporation")), into shares of the Covered Classes (as defined in the Certificate of Incorporation) that are outstanding immediately following the consummation of such Qualified Public Offering.
- [F2]The Series M Preferred Stock would convert into a number of shares of the Covered Classes equal to the product of the then applicable Series M Liquidation Multiple (as defined in the Certificate of Incorporation) multiplied by the quotient of (a) the total number of fully-diluted shares of the Covered Classes outstanding immediately following the consummation of the Qualified Public Offering (excluding shares of Common Stock issed pursuant to such offering), but prior to giving effect to the conversion of the Series M Preferred divided by (b) the then applicable Series M factor (as defined in the Certificate of Incorporation).
- [F3]There is no expiration date.