OLEARY THOMAS M 4
4 · PINNACLE DATA SYSTEMS INC · Filed Jan 31, 2012
Insider Transaction Report
Form 4
OLEARY THOMAS M
Director
Transactions
- Disposition to Issuer
Common stock
2012-01-30$2.40/sh−63,000$151,200→ 0 total - Disposition to Issuer
Stock option
2012-01-30$2.25/sh−10,000$22,500→ 28,227 totalExercise: $2.25From: 2004-11-07Exp: 2013-11-04→ Common stock (10,000 underlying) - Disposition to Issuer
Stock option
2012-01-30$2.15/sh−5,000$10,750→ 23,227 totalExercise: $2.15From: 2008-05-11Exp: 2017-05-11→ Common stock (5,000 underlying) - Disposition to Issuer
Stock option
2012-01-30$0.51/sh−3,000$1,530→ 10,227 totalExercise: $0.51From: 2010-05-26Exp: 2019-05-26→ Common stock (3,000 underlying) - Disposition to Issuer
Stock option
2012-01-30$1.32/sh−10,227$13,500→ 0 totalExercise: $1.32From: 2012-05-09Exp: 2021-05-09→ Common stock (10,227 underlying)
Footnotes (2)
- [F1]Pursuant to the Agreement and Plan of Merger, dated November 10, 2011 ("Merger Agreement") by and among Pinnacle Data Systems, Inc. (the "Company"), Avnet, Inc. ("Avnet") and AIR Acquisition Corp., a wholly-owned subsidiary of Avnet ("Merger Sub"), on January 30, 2012, Merger Sub merged with and into the Company (the "Merger"), and effective upon the consummation of the Merger each share of common stock of the Company that was issued and outstanding as of immediately prior to the effective time of the Merger was converted into the right to receive $2.40 in cash, without interest.
- [F2]Pursuant to the Merger Agreement, each issued and outstanding option to purchase shares of Company common stock was vested in full as of immediately prior to the Merger, and each holder of an option has the right to receive an amount in cash equal to the excess, if any, of $2.40 (without interest) over the exercise price per share of such option.