ITXC CORP 4
4 · ITXC CORP · Filed Jun 2, 2004
Insider Transaction Report
Form 4
ITXC CORPITXC
CYR LEO J
Director
Transactions
- Disposition to Issuer
Stock Option (Right to Purchase)
2004-05-31−50,000→ 0 totalExercise: $3.15Exp: 2013-08-06→ Common Stock (50,000 underlying)
Footnotes (2)
- [F1]Pursuant to the Agreement and Plan of Merger among Teleglobe International Holdings Ltd, Vex Merger Subsidiary Corp. and ITXC Corp., dated as of November 4, 2003, as amended, upon the consummation of the merger described in that agreement (which occurred on May 31, 2004), the Reporting Person became entitled to receive an option for 0.25 common shares of Teleglobe International Holdings Ltd for each option of ITXC Corp. held by the Reporting Person, in a transaction exempt from Section 16(b) of the Securities Exchange Act of 1934 pursuant to Rule 16b-3 promulgated by the Securities and Exchange Commission.
- [F2]This option, which provided for vesting in four equal annual installments beginning August 6, 2004, was assumed by Teleglobe International Holdings Ltd in the merger and replaced with an option to purchase 12,500 shares of Teleglobe International Holdings Ltd common shares.