BELO CORP 4
4 · BELO CORP · Filed Dec 23, 2013
Insider Transaction Report
Form 4
BELO CORPBLC
WARD LLOYD D
Director
Transactions
- Disposition to Issuer
Director Stock Options (Right to Buy)
2013-12-23−18,716→ 0 totalExercise: $10.20From: 2013-12-23Exp: 2018-05-13→ Series B Common Stock (18,716 underlying) - Disposition to Issuer
Series A Common Stock
2013-12-23$13.75/sh−12,576$172,920→ 0 total - Disposition to Issuer
Restricted Stock Units (Time-Based)
2013-12-23−7,124→ 0 totalFrom: 2013-12-23Exp: 2014-05-06→ Series A Common Stock (7,124 underlying)
Footnotes (3)
- [F1]Disposed of pursuant to the terms of the Agreement and Plan of Merger among Belo Corp. ("Belo" or the "Company"), Gannett Co., Inc., and Delta Acquisition Corp., dated as of June 12, 2013 (the "Merger Agreement"). Each share of Company common stock was converted into the right to receive $13.75 per share in cash at the effective time of the merger.
- [F2]Per the terms of the Merger Agreement, each stock option that was outstanding and unexercised as of the effective time of the merger was converted into the right to receive an amount in cash equal to the excess, if any, of $13.75 over the exercise price per share of Belo common stock subject to such Company stock option, less applicable withholding taxes.
- [F3]Per the terms of the Merger Agreement, each time-based restricted stock unit granted that was outstanding as of the effective time of the merger became fully vested and was canceled and converted into the right to receive an amount in cash equal to the sum of (i) $13.75 and (ii) any accrued but unpaid dividend equivalents as of the effective time of the merger, less applicable withholding taxes.