INSPIRE PHARMACEUTICALS INC 4
4 · INSPIRE PHARMACEUTICALS INC · Filed May 16, 2011
Insider Transaction Report
Form 4
LEFF JONATHAN S
Director
Transactions
- Disposition to Issuer
Stock Option (Right to Buy)
2011-05-13−10,164→ 0 totalExercise: $5.82Exp: 2017-06-02→ Common Stock (10,164 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2011-05-13−30,000→ 0 totalExercise: $5.05Exp: 2016-06-04→ Common Stock (30,000 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2011-05-13−30,000→ 0 totalExercise: $5.00Exp: 2015-06-09→ Common Stock (30,000 underlying) - Disposition to Issuer
Restricted Stock Unit
2011-05-13−6,873→ 0 total→ Common Stock (6,873 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2011-05-13−50,000→ 0 totalExercise: $5.95Exp: 2014-07-19→ Common Stock (50,000 underlying) - Disposition from Tender
Common Stock
2011-05-13$5.00/sh−22,907,488$114,537,440→ 0 total(indirect: See Footnote 1)
Footnotes (3)
- [F1]See Exhibit 99.1.
- [F2]These stock options were cancelled in accordance with the terms and conditions of the Agreement and Plan of Merger, dated as of April 5, 2011, by and among, Merck & Co., Inc., Monarch Transaction Corp. and Inspire Pharmaceuticals, Inc. (the "Merger Agreement"). As the exercise price of the options was at or above $5.00, no cash payment was provided.
- [F3]Pursuant to the Merger Agreement, these restricted stock units ("RSUs"), whether or not vested, were fully vested immediately prior to and cancelled immediately following the acceptance time under the Merger Agreement in exchange for the right to receive cash payment for each such RSU of $5.00, net to the seller in cash, without interest and less any required withholding taxes.