YOUNG WILLIAM N III 4
4 · SPINNAKER EXPLORATION CO · Filed Dec 15, 2005
Insider Transaction Report
Form 4
YOUNG WILLIAM N III
Vice President - Marketing
Transactions
- Disposition to Issuer
Common Stock
2005-12-13$65.50/sh−777$50,894→ 0 total(indirect: By 401(k)) - Disposition to Issuer
Employee Stock Option (right to buy)
2005-12-13$39.74/sh−30,000$1,192,200→ 0 totalExercise: $25.76Exp: 2013-06-24→ Common Stock (30,000 underlying) - 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$39.76/sh−50,000$1,988,000→ 0 totalExercise: $25.74Exp: 2008-05-27→ Common Stock (50,000 underlying) - 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) - Disposition to Issuer
Employee Stock Option (right to buy)
2005-12-13$28.42/sh−10,000$284,200→ 0 totalExercise: $37.08Exp: 2009-02-13→ Common Stock (10,000 underlying)
Footnotes (5)
- [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 May 27, 2003, 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 $1,988,000.00, representing the difference between the exercise price of the option and merger consideration of $65.50.
- [F3]Options vested 20% on June 24, 2003, 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 $1,192,200.00, representing the difference between the exercise price of the option and merger consideration of $65.50.
- [F4]Options vested 20% on February 13, 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 $284,200.00, representing the difference between the exercise price of the option and merger consideration of $65.50.
- [F5]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.