4//SEC Filing
Sands Michael D 4
Accession 0001193805-10-001614
CIK 0000814055other
Filed
Jun 2, 8:00 PM ET
Accepted
Jun 3, 5:53 PM ET
Size
14.1 KB
Accession
0001193805-10-001614
Insider Transaction Report
Form 4
YOUBET COM INCUBET
Sands Michael D
Director
Transactions
- Disposition to Issuer
Stock Option (Right to Buy)
2010-06-02−35,000→ 0 totalExercise: $1.22Exp: 2018-05-08→ Common Stock, par value $.001 per share (35,000 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2010-06-02−15,000→ 0 totalExercise: $2.81Exp: 2019-05-31→ Common Stock, par value $.001 per share (15,000 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2010-06-02−50,064→ 0 totalExercise: $1.44Exp: 2018-06-11→ Common Stock, par value $.001 per share (50,064 underlying) - Disposition to Issuer
Common Stock, par value $.001 per share
2010-06-02−22,500→ 0 total
Footnotes (4)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger dated as of November 11, 2009 (the "Merger Agreement") among Youbet.com, Inc. ("Youbet"), Churchill Downs Incorporated ("CDI"), Tomahawk Merger Corp. and Tomahawk Merger LLC, in exchange for a combination of $22,275 in cash and 1,329 shares of CDI common stock, based on the final exchange ratio of $0.99 in cash and 0.0591 shares of CDI common stock per share of Youbet common stock. On June 1, 2010, the last trading day prior to the effective time of the merger, CDI common stock had a closing value of $32.04 per share.
- [F2]These stock options vested ratably over a 12-month period beginning May 9, 2008. These stock options were canceled and exchanged for a payment of a combination of $20,015.62 in cash and 1,194 shares of CDI common stock pursuant to the terms of the Merger Agreement. The cash and stock payment made with respect to these stock options is based upon the amount by which $0.99 plus the product of (i) 0.0591 and (ii) $32.04, the closing price of CDI common stock on the day immediately prior to the effective time of the merger, exceeded the exercise price of each such Youbet stock option.
- [F3]These stock options vest ratably over a 12-month period beginning June 12, 2008. These stock options were canceled and exchanged for a payment of a combination of $24,847.56 in cash and 1,483 shares of CDI common stock pursuant to the terms of the Merger Agreement. The cash and stock payment made with respect to these stock options is based upon the amount by which $0.99 plus the product of (i) 0.0591 and (ii) $32.04, the closing price of CDI common stock on the day immediately prior to the effective time of the merger, exceeded the exercise price of each such Youbet stock option.
- [F4]These stock options vest ratably over a 12-month period beginning June 1, 2009. These stock options were canceled and exchanged for a payment of a combination of $386.83 in cash and 23 shares of CDI common stock pursuant to the terms of the Merger Agreement. The cash and stock payment made with respect to these stock options is based upon the amount by which $0.99 plus the product of (i) 0.0591 and (ii) $32.04, the closing price of CDI common stock on the day immediately prior to the effective time of the merger, exceeded the exercise price of each such Youbet stock option.
Documents
Issuer
YOUBET COM INC
CIK 0000814055
Entity typeother
Related Parties
1- filerCIK 0001420280
Filing Metadata
- Form type
- 4
- Filed
- Jun 2, 8:00 PM ET
- Accepted
- Jun 3, 5:53 PM ET
- Size
- 14.1 KB