ENCISO GONZALO 4
4 · SPINNAKER EXPLORATION CO · Filed Dec 15, 2005
Insider Transaction Report
Form 4
ENCISO GONZALO
VP and Chief Geoscientist
Transactions
- Disposition to Issuer
Common Stock
2005-12-13$65.50/sh−1,500$98,250→ 0 total - Disposition to Issuer
Employee Stock Option (right to buy)
2005-12-13$39.18/sh−100,000$3,918,000→ 0 totalExercise: $26.32Exp: 2008-11-04→ Common Stock (100,000 underlying) - Disposition to Issuer
Common Stock
2005-12-13$65.50/sh−578$37,859→ 0 total(indirect: By 401(k)) - Disposition to Issuer
Employee Stock Option (right to buy)
2005-12-13$31.45/sh−8,000$251,600→ 0 totalExercise: $34.05Exp: 2012-05-06→ Common Stock (8,000 underlying)
Footnotes (3)
- [F1]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.
- [F2]Options vested 20% on November 4, 2004, the grant date, and vested in 20% increments on each anniversary of the grant date and were canceled in the merger in exchange for a cash payment of $3,918,000.00, representing the difference between the exercise price of the option and merger consideration of $65.50.
- [F3]Options vested 20% on May 6, 2005, the grant date, and were canceled in the merger in exchange for a cash payment of $251,600.00, representing the difference between the exercise price of the option and merger consideration of $65.50.