KYPHON INC 4
4 · KYPHON INC · Filed Nov 6, 2007
Insider Transaction Report
Form 4
KYPHON INCKYPH
GROSSMAN D KEITH
Director
Transactions
- Disposition to Issuer
Director Stock Option (Right to Buy)
2007-11-02$23.13/sh−20,000$462,600→ 0 totalExercise: $47.87Exp: 2017-05-01→ Common Stock (20,000 underlying) - Disposition to Issuer
Common Stock
2007-11-02−64→ 0 total(indirect: See Footnote)
Footnotes (3)
- [F1]Disposed of pursuant to the merger agreement among Kyphon Inc., Jets Acquisition Corporation and Medtronic, Inc. in exchange for $71.00 per share in cash on the effective date of the merger.
- [F2]The shares are held by the D. Keith and Hallie H. Grossman Family Living Trust, of which the reporting person and his spouse are trustees.
- [F3]This option, which provided for vesting of 1/36 of shares per month beginning on 6/1/07, was cancelled in the merger with Medtronic, Inc. in exchange for a cash payment of $462,600, representing the difference between the exercise price of the option and the merger consideration.