Babbrah Bhupinder 4
4 · Archipelago Learning, Inc. · Filed May 17, 2012
Insider Transaction Report
Form 4
Babbrah Bhupinder
EVP, Chief Technology Officer
Transactions
- Disposition to Issuer
Stock Option
2012-05-17$1.13/sh−42,500$48,025→ 0 totalExercise: $9.97Exp: 2022-01-10→ Common Stock (42,500 underlying)
Footnotes (2)
- [F1]Pursuant to that certain Agreement and Plan of Merger, dated as of March 3, 2012, by and among Archipelago Learning, Inc. ("Archipelago"), Plato Learning, Inc. and Project Cayman Merger Corp (the "Merger Agreement"), each outstanding stock option, whether or not vested, was cancelled and converted into the right to receive the option's spread value (i.e., a cash payment equal to the excess, if any, of $11.10 over such option's exercise price).
- [F2]This option provided for vesting in equal installments on each of the first four anniversaries of the date of the grant or in full upon a change of control, including the transactions contemplated by the Merger Agreement.