SPINNAKER EXPLORATION CO 4
4 · SPINNAKER EXPLORATION CO · Filed Dec 15, 2005
Insider Transaction Report
Form 4
NEWMAN HOWARD H
Director
Transactions
- Disposition from Tender
Common Stock
2005-12-13$65.50/sh−6,800,585$445,438,318→ 0 total(indirect: By Warburg Pincus Ventures, L.P.) - Disposition to Issuer
Director Stock Option (right to buy)
2005-12-13$24.77/sh−600$14,862→ 0 totalExercise: $40.73Exp: 2011-05-10→ Common Stock (600 underlying) - Disposition to Issuer
Director Stock Option (right to buy)
2005-12-13$24.77/sh−10,000$247,700→ 0 totalExercise: $40.73Exp: 2011-05-10→ Common Stock (10,000 underlying)
Footnotes (4)
- [F1]The stockholder is Warburg Pincus Ventures, L.P. ("WPV"). Warburg Pincus Partners, LLC ("WPP"), a New York limited liability company and a subsidiary of Warburg Pincus & Co. ("WP"), is the sole general partner of WPV. WPV is managed by Warburg Pincus LLC ("WP LLC"). The address of WPV, WPP, WP and WP LLC (collectively, the "Warburg Pincus Entities") is 466 Lexington Avenue, New York, NY 10017. Mr. Newman is Senior Advisor and Vice Chairman of WP LLC. Mr. Newman may be deemed to have an indirect pecuniary interest (within the meaning of Rule 16a-1 under the Securities Act of 1934, as amended) in an indeterminate portion of the shares beneficially owned by WPV.
- [F2]The shares were disposed of pursuant to the merger agreement between the issuer and Norsk Hydro ASA in exchange for merger consideration of $65.50 per share.
- [F3]Options became 100% vested on May 10, 2005 and were canceled in the merger in exchange for cash payment of $247,750.00, representing the difference between the exercise price of the option and merger consideration of $65.50.
- [F4]Options were 100% vested on May 10, 2001 and were canceled in the merger in exchange for cash payment of $14,865.00, representing the difference between the exercise price of the option and merger consideration of $65.50.