4//SEC Filing
STEC, INC. 4
Accession 0001181431-13-049217
CIK 0001102741operating
Filed
Sep 15, 8:00 PM ET
Accepted
Sep 16, 7:19 PM ET
Size
10.1 KB
Accession
0001181431-13-049217
Insider Transaction Report
Form 4
STEC, INC.STEC
Bahri Rajat
Director
Transactions
- Disposition to Issuer
Common Stock
2013-09-12$6.85/sh−2,000$13,700→ 0 total - Disposition to Issuer
Stock Option (Right to Buy)
2013-09-12−82,500→ 0 totalFrom: 2013-09-12→ Common Stock (82,500 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2013-09-12−30,000→ 0 totalFrom: 2013-09-12→ Common Stock (30,000 underlying)
Footnotes (3)
- [F1]Pursuant to the Agreement and Plan of Merger, dated as of June 23, 2013 (the "Merger Agreement"), by and among sTec, Inc. (the "Issuer"), Western Digital Corporation ("WDC") and Lodi Ventures, Inc. ("Merger Sub"), on September 12, 2013 (the "Effective Time"), Merger Sub merged with and into the Issuer (the "Merger"), and these shares of common stock of the Issuer were automatically cancelled and converted into the right to receive $6.85 per share in cash (the "Merger Consideration").
- [F2]These options, which were fully vested at the Effective Time, had exercise prices less than the Merger Consideration, and were converted into options to purchase 3,187 shares of WDC common stock for $35.49 per share at the Effective Time. Given that Mr. Bahri's board service with the Issuer was terminated immediately prior to the Effective Time, he will only have 12 months after the Effective Time to exercise these substituted options.
- [F3]These options, which were fully vested or accelerated to fully vest at the Effective Time, had exercise prices greater than the Merger Consideration, and were converted into options (similarly out of the money) to purchase shares of WDC common stock at the Effective Time. Given that Mr. Bahri's board service with the Issuer was terminated immediately prior to the Effective Time, he will only have 12 months after the Effective Time to exercise these substituted options.
Documents
Issuer
STEC, INC.
CIK 0001102741
Entity typeoperating
IncorporatedCA
Related Parties
1- filerCIK 0001102741
Filing Metadata
- Form type
- 4
- Filed
- Sep 15, 8:00 PM ET
- Accepted
- Sep 16, 7:19 PM ET
- Size
- 10.1 KB