BAIR PAYNE W 4
4 · HYTEK MICROSYSTEMS INC · Filed Jun 3, 2005
Insider Transaction Report
Form 4
BAIR PAYNE W
Principal Accounting Officer
Transactions
- Disposition from Tender
Employee stock option (Right to buy)
2005-06-01$1.19/sh−9,883$11,761→ 0 totalExercise: $0.81Exp: 2014-12-17→ Common Stock (9,883 underlying) - Disposition from Tender
Employee stock option (Right to buy)
2005-06-01$1.02/sh−15,000$15,300→ 0 totalExercise: $0.98Exp: 2008-11-03→ Common Stock (15,000 underlying) - Disposition from Tender
Common Stock
2005-06-01$2.00/sh−2,325$4,650→ 0 total
Footnotes (2)
- [F1]The option vests and becomes exercisable at the rate of 1/4th of the shares on December 17, 2005 and as to 1/48th of the shares on each one month anniversary thereafter. This option was canceled pursuant to a merger agreement in exchange for a cash payment of $11,760.77 representing the difference between the exercise price of the option and the value of the underlying Hytek Microsystems common stock on the effective date of the merger ($2 per share).
- [F2]The option vests and becomes exercisable at the rate of 1/4th of the shares on November 3, 2004 and as to 1/48th of the shares on each one month anniversary thereafter. This option was canceled pursuant to a merger agreement in exchange for a cash payment of $15,300.00 representing the difference between the exercise price of the option and the value of the underlying Hytek Microsystems comon stock on the effective date of the merger ($2 per share).