4//SEC Filing
INNKEEPERS USA TRUST/FL 4
Accession 0001181431-07-043425
CIK 0000926866operating
Filed
Jul 1, 8:00 PM ET
Accepted
Jul 2, 6:52 PM ET
Size
8.3 KB
Accession
0001181431-07-043425
Insider Transaction Report
Form 4
MURPHY MARK A
General Counsel & Secretary
Transactions
- Disposition to Issuer
Common Shares
2007-06-29$17.75/sh−143,195$2,541,711→ 0 total - Disposition to Issuer
Performance Shares
2007-06-29−87,500→ 0 totalExp: 2008-05-30→ Common Shares (87,500 underlying)
Footnotes (3)
- [F1]Pursuant to the Merger Agreement between Innkeepers USA Trust and Grand Prix Holdings LLC, each common share was cancelled and converted into the right to receive $17.75 (the "Merger Consideration").
- [F2]Prior to the Merger Agreement, restricted shares were to issue pursuant to the performance shares as follows: (1) none if the Registrant does not attain a compounded total return to shareholders ("TRS") of 10% or more for the period June 1, 2005 - May 31, 2008 ("Measuring Period"); (ii) 35,000 upon the attainment by the Registrant of TRS of 10% or more for the Measuring Period; (iii) 52,500 upon the attainment by the Registrant of TRS of 12% of more for the Measuring Period; (iv) 70,000 upon the attainment by the Registrant of TRS of 14% or more for the Measuring Period; or (v) 87,500 upon the attainment by the Registrant of 16% or more for the Measuring Period. TRS is based upon the appreciation in the Registrant's share price and distributions made to shareholders.
- [F3]Pursuant to the Merger Agreement, performance shares vested and were converted into the right to receive the Merger Consideration.
Documents
Issuer
INNKEEPERS USA TRUST/FL
CIK 0000926866
Entity typeoperating
IncorporatedMD
Related Parties
1- filerCIK 0000926866
Filing Metadata
- Form type
- 4
- Filed
- Jul 1, 8:00 PM ET
- Accepted
- Jul 2, 6:52 PM ET
- Size
- 8.3 KB