FLAUM DAVID M 4
4 · US LEC CORP · Filed Aug 5, 2003
Insider Transaction Report
Form 4
US LEC CORP(CLEC)
FLAUM DAVID M
Director
Transactions
- Disposition to Issuer
Stock Option (right to buy)
2003-01-29−5,000→ 40,000 totalExercise: $7.31Exp: 2008-09-18→ Class A Common Stock (5,000 underlying) - Disposition to Issuer
Stock Option (right to buy)
2003-01-29−10,000→ 25,000 totalExercise: $7.69Exp: 2011-03-15→ Class A Common Stock (10,000 underlying) - Award
Stock Option (right to buy)
2003-08-01$4.03/sh+45,000$181,350→ 45,000 totalExercise: $4.03Exp: 2013-08-01→ Class A Common Stock (45,000 underlying) - Disposition to Issuer
Stock Option (right to buy)
2003-01-29−25,000→ 0 totalExercise: $4.83Exp: 2012-02-07→ Class A Common Stock (25,000 underlying)
Footnotes (6)
- [F1]These options were exercisable at various dates in accordance with the option grants made under the issuer's 1998 Omnibus Stock Plan.
- [F2]On January 29, 2003, issuer canceled an option to purchase 5,000 shares of our Class A common stock at an exercise price of $7.3125 per share.
- [F3]On January 29, 2003, issuer canceled an option to purchase 5,000 shares of our Class A common stock at an exercise price of $15.375 per share.
- [F4]On January 29, 2003, issuer canceled an option to purchase 10,000 shares of our Class A common stock at an exercise price of $7.6875 per share.
- [F5]On January 29, 2003, issuer canceled an option to purchase 25,000 shares of our Class A common stock at an exercise price of $4.83 per share.
- [F6]This option was granted in exchange for the options that were canceled as described in the preceding footnotes. This option becomes exercisable in accordance with the terms set forth in the issuer's Exchange Offer, dated December 20, 2002.