4//SEC Filing
Edwards Berryman W. 4
Accession 0001181431-12-065714
CIK 0000860519other
Filed
Dec 17, 7:00 PM ET
Accepted
Dec 18, 6:04 PM ET
Size
30.6 KB
Accession
0001181431-12-065714
Insider Transaction Report
Form 4
Edwards Berryman W.
Director
Transactions
- Disposition to Issuer
Common Stock
2012-12-13−18,575→ 0 total - Award
Stock Option
2007-04-23+204→ 204 totalExercise: $25.70Exp: 2017-04-23→ Common Stock (204 underlying) - Award
Stock Option
2010-04-22+288→ 288 totalExercise: $11.25Exp: 2020-04-22→ Common Stock (288 underlying) - Disposition to Issuer
Stock Option
2012-12-13−377→ 0 totalExercise: $17.44Exp: 2018-04-24→ Common Stock (377 underlying) - Disposition to Issuer
Stock Option
2012-12-13−288→ 0 totalExercise: $11.25Exp: 2020-04-22→ Common Stock (288 underlying) - Disposition to Issuer
Deferred Stock Units
2012-12-13−7,563.46→ 0 total→ Common Stock (7,563.46 underlying) - Award
Stock Option
2009-04-23+861→ 861 totalExercise: $8.74Exp: 2019-04-23→ Common Stock (861 underlying) - Disposition to Issuer
Stock Option
2012-12-13−165→ 0 totalExercise: $28.56Exp: 2016-04-20→ Common Stock (165 underlying) - Disposition to Issuer
Stock Option
2012-12-13−204→ 0 totalExercise: $25.70Exp: 2017-04-23→ Common Stock (204 underlying) - Award
Deferred Stock Units
2005-12-12+7,563.46→ 7,563.46 total→ Common Stock (7,563.46 underlying) - Award
Stock Option
2006-04-20+165→ 165 totalExercise: $28.56Exp: 2016-04-20→ Common Stock (165 underlying) - Award
Stock Option
2008-04-24+377→ 377 totalExercise: $17.44Exp: 2018-04-24→ Common Stock (377 underlying) - Disposition to Issuer
Stock Option
2012-12-13$0.72/sh−861$620→ 0 totalExercise: $8.74Exp: 2019-04-23→ Common Stock (861 underlying)
Footnotes (4)
- [F1]Pursuant to the Agreement and Plan of Merger by and between the issuer and SCBT Financial Corporation ("SCBT"), dated as of August 7, 2012 (the "Merger Agreement"), each share of issuer common stock was converted into 0.2503 shares of SCBT common stock, for a total of 4,649 shares of SCBT common stock having a market value of $39.40 per share on the vesting date.
- [F2]The option vested 25% on the grant date, 25% on the following July 1, 25% on the following October 1, and 25% on the following January 1.
- [F3]Pursuant to the Merger Agreement, each issuer stock option was converted into the right to receive a cash payment equal to the product of (i) the excess, if any, of (A) the closing price per share of issuer common stock immediately prior to the effective time of the merger ($9.46) over (B) the per-share exercise price of such issuer stock option and (ii) the number of shares of issuer common stock subject to such issuer stock option. In the event that the product obtained by the prior sentence was zero or a negative number, then the issuer stock option was cancelled for no consideration.
- [F4]Reflects amounts held in the reporting person's account accumulated over time and denominated in issuer common stock under the SAVB Deferred Stock Plan ("Issuer Deferred Stock Units"). Pursuant to the Merger Agreement, the Issuer Deferred Stock Units were converted into the right with respect to a number of shares of SCBT common stock that was equal to the number of Issuer Deferred Stock Units immediately prior to the effective time of the merger multiplied by 0.2503 (rounded to the nearest whole share), for a total of 1,893 Deferred Stock Units, and otherwise on the same terms and conditions as applied to such Issuer Deferred Stock Units immediately prior to the effective time of the merger. As of the effective time of the merger, SCBT assumed the obligations and succeeded to the rights of the issuer with respect to the Issuer Deferred Stock Units (as converted into SCBT Deferred Stock Units).
Documents
Issuer
SAVANNAH BANCORP INC
CIK 0000860519
Entity typeother
Related Parties
1- filerCIK 0001494648
Filing Metadata
- Form type
- 4
- Filed
- Dec 17, 7:00 PM ET
- Accepted
- Dec 18, 6:04 PM ET
- Size
- 30.6 KB