CITY NATIONAL CORP 4
4 · CITY NATIONAL CORP · Filed Nov 3, 2015
Insider Transaction Report
Form 4
GILBERT-LURIE CLIFFORD
Director
Transactions
- Disposition to Issuer
Common Stock
2015-11-02−15→ 0 total - Disposition to Issuer
Stock Fund Units (DDCP)
2015-11-02−1,104→ 0 total→ Common Stock (1,104 underlying)
Footnotes (3)
- [F1]On November 2, 2015, Royal Bank of Canada (RBC) completed the previously announced merger of City National Corporation (City National) with and into RBC USA Holdco Corporation, a wholly owned subsidiary of RBC (Holdco), pursuant to the Agreement and Plan of Merger, dated January 22, 2015, by and among City National, RBC and Holdco (Merger Agreement). In accordance with the terms of the Merger Agreement, at the effective time of the merger each share of City National common stock outstanding immediately prior to the effective time of the merger, was converted into the right to receive the merger consideration.
- [F2]These Stock Fund Units were acquired under the Director Deferred Compensation Plan (DDCP) and were deemed to be invested in City National common stock on a one-for-one basis and are generally distributed on termination, or following retirement on the date or dates specified by the reporting person.
- [F3]In accordance with the terms of the Merger Agreement, at the effective time of the merger, the Stock Fund Units shall be deemed to be invested in RBC common shares on the terms specified in the Merger Agreement.