BUSHNELL PHILIP S 4
4 · HYTEK MICROSYSTEMS INC · Filed Jun 3, 2005
Insider Transaction Report
Form 4
BUSHNELL PHILIP S
DirectorCFO
Transactions
- Disposition from Tender
Common Stock
2005-06-01$2.00/sh−17,250$34,500→ 0 total - Disposition from Tender
Employee stock option (Right to buy)
2005-06-01$1.19/sh−16,471$19,600→ 0 totalExercise: $0.81Exp: 2014-12-17→ Common Stock (16,471 underlying) - Disposition from Tender
Employee stock option (Right to buy)
2005-06-01$1.15/sh−25,000$28,750→ 0 totalExercise: $0.85Exp: 2008-09-19→ Common Stock (25,000 underlying)
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 $19,600.49 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 September 19, 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 $28,750.00 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).