MAC-GRAY CORP 4
4 · MAC-GRAY CORP · Filed Jan 13, 2014
Insider Transaction Report
Form 4
Hyman James E
Director
Transactions
- Disposition to Issuer
Common Stock
2014-01-09−1,048→ 0 total - Disposition to Issuer
Stock Option (right to buy)
2014-01-09$7.25/sh−5,000$36,250→ 0 totalExercise: $14.00Exp: 2023-06-11→ Common Stock (5,000 underlying)
Footnotes (2)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger, dated as of October 14, 2013, by and among Mac-Gray Corporation ("Mac-Gray"), CSC ServiceWorks Holdings, Inc., CSC ServiceWorks, Inc., Spin Holdco Inc. and CSC Fenway, Inc. (the "Merger Agreement"). The Merger Agreement provides that each share of Mac-Gray common stock and each outstanding restricted stock unit shall be converted into the right to receive $21.25 in cash, without interest (the "Merger"). The total reported as disposed in this Form 4 includes shares of common stock and restricted stock units.
- [F2]Immediately prior to the effective time of the Merger, each Mac-Gray stock option, whether or not vested and exercisable, outstanding and unexercised immediately prior to the effective time was converted into the right to receive an amount in cash (less applicable tax withholdings) equal to the product of (a) the excess of $21.25 over the per share exercise price of such stock option and (b) the total number of shares of common stock subject to such stock option