ASSET ACCEPTANCE CAPITAL CORP 4
4 · ASSET ACCEPTANCE CAPITAL CORP · Filed Jun 17, 2013
Insider Transaction Report
Form 4
Goodeve H Philip
Director
Transactions
- Other
Restricted Stock Unit covering AACC Common Stock
2013-06-13$6.50/sh−4,823$31,350→ 0 totalExercise: $6.50→ Common Stock (4,823 underlying)
Footnotes (3)
- [F1]Pursuant to the Agreement and Plan of Merger, dated as of March 6, 2013 (the "Merger Agreement"), by and among Asset Acceptance Capital Corp. ("AACC"), Encore Capital Group, Inc. ("Encore"), and Pinnacle Sub, Inc. ("Merger Sub"), AACC merged with and into Merger Sub (the "Merger"). Upon the effective time of the Merger, each share of AACC common stock was cancelled and exchanged for (i) cash equal to $6.50 per share without interest and less any applicable withholding taxes (the "Cash Consideration"), (ii) subject to proration upon the terms outlined in the merger agreement, 0.2162 shares of Encore common stock per share of AACC common stock or (iii) a combination thereof (the "Merger Consideration"). (Continued in footnote 2)
- [F2]Pursuant to the Merger Agreement, immediately prior to the Effective Time, each restricted stock unit with respect to shares of AACC common stock that was outstanding immediately prior to the effective time of the Merger and each outstanding deferred stock unit was cancelled in exchange for the right to receive from AACC a cash amount equal to the product of (i) the Cash Consideration and (ii) the total number of shares of AACC common stock subject to such restricted or deferred stock unit.
- [F3]Restricted stock units do not expire.