CHITTENDEN CORP /VT/ 4
4 · CHITTENDEN CORP /VT/ · Filed Jan 3, 2008
Insider Transaction Report
Form 4
OBRIEN DANNY H
President Ocean National Bank
Transactions
- Disposition to Issuer
Common Stock
2008-01-03−17,903→ 0 total - Disposition to Issuer
Stock Option
2008-01-03$35.52/sh−193,001$6,855,396→ 0 totalExercise: $23.74From: 2007-12-27Exp: 2008-01-03→ Common Stock (0 underlying)
Footnotes (2)
- [F1]Disposed of pursuant to a merger agreement between the issuer and People's United Financial, Inc. dated June 26, 2007, in exchange for either $35.636 in cash or 2.0457 shares of Peoples's United common stock, depending on the election made by the reporting person and the pro-ration procedures descreibed in the merger agreement.
- [F2]Options which were fully vested were canceled in the merger in exchange for an amount equal to the number of shares of the Company's common stock subject to each Unexercised Option, multiplied by the excess, if any, of the fair market value of the Company's common stock on 12-26-07, over the exercise price of the Unexercised Options.