Anderson Ethan F 4
4 · Volcom Inc · Filed Jun 24, 2011
Insider Transaction Report
Form 4
Volcom IncVLCM
Anderson Ethan F
SVP of Creative
Transactions
- Disposition to Issuer
STOCK OPTION (RIGHT TO BUY)
2011-06-23$6.50/sh−20,000$130,000→ 0 totalExercise: $18.00From: 2010-06-29Exp: 2015-06-29→ Common Stock (20,000 underlying) - Disposition to Issuer
STOCK OPTION (RIGHT TO BUY)
2011-06-23$11.03/sh−40,000$441,200→ 0 totalExercise: $13.47Exp: 2019-05-05→ Common Stock (40,000 underlying)
Footnotes (3)
- [F1]Reflects the repricing of the Issuer's outstanding stock options that occurred in November 2010 in accordance with the antidilution provisions set forth in the Issuer's Amended and Restated 2005 Incentive Award Plan, pursuant to which the exercise price of each of the Issuer's outstanding stock options was reduced by $1.00 to reflect the $1.00 per share special cash dividend paid on each share of the Issuer's outstanding common stock on November 19, 2010.
- [F2]Each of the Issuer's outstanding stock options was cancelled pursuant to the Agreement and Plan of Merger, dated as of May 2, 2011, by and among PPR S.A., Transfer Holdings, Inc. and Volcom, Inc. (the "Merger Agreement") in exchange for the excess, if any, of $24.50 per share over the exercise price per share under such option.
- [F3]The option was to vest in equal installments of 20% per year over five years from May 5, 2009. Includes 24,000 previously unvested shares under the option that became immediately vested and exercisable in full at the effective time of the merger pursuant to the Merger Agreement.