QUADRAMED CORP 4
4 · QUADRAMED CORP · Filed Mar 17, 2006
Insider Transaction Report
Form 4
ENGLISH LAWRENCE P
Director
Transactions
- Disposition to Issuer
Common Stock
2005-12-29$1.36/sh−256,500$348,840→ 2,703,500 total
Footnotes (2)
- [F1]As previously reported by the Company in its Current Report on Form 8-K, filed with the SEC on September 29, 2005, the Company entered into a Transition Agreement, effective October 17, 2005, with Lawrence P. English in connection with Mr. English's departure as the Company's Chief Executive Officer and President. Pursuant to the Transition Agreement, (i) the Company repurchased 256,500 shares of restricted common stock from Mr. English on December 29, 2005, at a price per share of $1.36 (the closing price of Company's common stock on December 28, 2005), to enable Mr. English to satisfy applicable income taxes associated with the lapsing of restrictions on his restricted shares, and (ii) all restrictions on transfer on Mr. English's remaining 418,500 restricted shares lapsed as of December 31, 2005.
- [F2]2,035,000 of such shares of common stock are issuable upon the exercise of options. All such options vested and became exercisable in full on December 31, 2005, in accordance with the terms of Mr. English's Transition Agreement.