MCKAY SAMUEL F 4
4 · OPEN SOLUTIONS INC · Filed Dec 2, 2003
Insider Transaction Report
Form 4
MCKAY SAMUEL F
Director
Transactions
- Conversion
Series F Preferred Stock
2003-12-02−80,472→ 0 total(indirect: See footnote)→ Common Stock (88,235 underlying) - Conversion
Series C Preferred Stock
2003-12-02−111,111→ 0 total(indirect: See footnote)→ Common Stock (76,570 underlying) - Conversion
Common Stock
2003-12-02+235,294→ 917,340 total(indirect: See footnote) - Conversion
Series B Preferred Stock
2003-12-02−750,000→ 0 total(indirect: See footnote)→ Common Stock (517,241 underlying) - Conversion
Common Stock
2003-12-02+517,241→ 517,241 total(indirect: See footnote) - Conversion
Common Stock
2003-12-02+76,570→ 593,811 total(indirect: See footnote) - Conversion
Common Stock
2003-12-02+88,235→ 682,046 total(indirect: See footnote) - Conversion
Series F Preferred Stock
2003-12-02−214,592→ 0 total(indirect: See footnote)→ Common Stock (235,294 underlying)
Footnotes (5)
- [F1]These shares are owned by Axiom Venture Partners, L.P. Mr. McKay is chief executive officer of Axiom Venture Associates, Inc. the general partner of Axiom Venture Partners, L.P. Mr. McKay disclaims any beneficial ownership of the shares held by Axiom Venture Partners, L.P. except to the extent of his pecuniary interest therein, and the reporting herein of such securities shall not be construed as an admission that Mr. McKay is the beneficial owner of any such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
- [F2]These shares are owned by Axiom Venture Partners III Limited Partnership. Mr. McKay is chief executive officer of Axiom Venture Partners III Limited Partnership. Mr. McKay disclaims any beneficial ownership of the shares held by Axiom Venture Partners III Limited Partnership, except to the extent of his pecuniary interest therein, and the reporting herein of such securities shall not be construed as an admission that Mr. McKay is the beneficial owner of any such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
- [F3]Each share of Series B and C Preferred Stock automatically converted into approximately 0.69 shares of Common Stock upon the closing of the issuer's initial public offering.
- [F4]Each share of Series F Preferred Stock automatically converted into approximately 1.10 shares of Common Stock upon the closing of the issuer's initial public offering. The conversion ratio reflects an adjustment to the conversion price upon such closing, pursuant to the issuer's Amended and Restated Certificate of Incorporation.
- [F5]N/A