4//SEC Filing
KIM SANG HOON 4
Accession 0001181431-10-018894
CIK 0001174820other
Filed
Mar 29, 8:00 PM ET
Accepted
Mar 30, 9:51 PM ET
Size
9.5 KB
Accession
0001181431-10-018894
Insider Transaction Report
Form 4
KIM SANG HOON
Director
Transactions
- Purchase
Common Stock
2010-03-26+11,264→ 941,726 total - Sale
Preferred Stock, Series B
2010-03-26$1000.00/sh−500$500,000→ 0 total - Purchase
Common Stock
2010-03-26+133,333→ 930,462 total
Footnotes (3)
- [F1]The price for this transaction is zero because it involves an exchange of shares. The transaction represents the conversion of shares of the Company's Mandatorily Convertible Non-Cumulative Non-Voting Perpetual Preferred Stock, Series B ("Series B Preferred Stock") into common stock. The shares of Series B Preferred Stock were purchased from the Company in a private placement which closed on December 31, 2009 (the "December Private Placement"), at a purchase price of $1,000 per share. The issuance of the common shares upon the conversion of the Series B Preferred Stock was approved by the shareholders on March 24, 2010 and occurred automatically on March 29, 2010. Each share of Series B Preferred Stock was converted into a number of shares of common stock determined by dividing $1,000 per share by the initial conversion price of $3.75 per share.
- [F2]The price for this transaction is zero because it involves the issuance of additional shares to the reporting person without additional consideration in connection with a private placement of common stock that closed on November 30, 2009 (the "November Private Placement"). This transaction effectively adjusted the price paid for shares in the November Private Placement to $3.71 per share through the issuance of these additional shares. The shares in the November Private Placement were sold at a purchase price per share of $4.69 for directors and employees of the Company and $3.71 for other investors. The difference in the purchase price was necessary to comply with NASDAQ Listing Rule 5635(c). (Continue in footnote 3)
- [F3]The Company's shareholders approved the November Private Placement at a special meeting held on March 24, 2010, so that all investors in that private placement could be treated equally consistent with the NASDAQ rules and the additional shares could be issued to effectively adjust the purchase price.
Documents
Issuer
CENTER FINANCIAL CORP
CIK 0001174820
Entity typeother
Related Parties
1- filerCIK 0001250285
Filing Metadata
- Form type
- 4
- Filed
- Mar 29, 8:00 PM ET
- Accepted
- Mar 30, 9:51 PM ET
- Size
- 9.5 KB