TOWNSEND EDWARD A 4
4 · LOCAL FINANCIAL CORP /NV · Filed Jun 18, 2004
Insider Transaction Report
Form 4
TOWNSEND EDWARD A
DirectorCEO and Chairman of the Board
Transactions
- Sale
Common Stock
2004-06-18$22.00/sh−50,000$1,100,000→ 0 total - Disposition to Issuer
Stock Option
2004-06-18$12.00/sh−606,640$7,279,680→ 0 totalExercise: $10.00Exp: 2008-09-23→ Common Stock (606,640 underlying)
Footnotes (1)
- [F1]At the effective time of the merger between the issuer and International Bancshares Corporation, this option became fully vested and exercisable and was canceled in exchange for a cash payment equal to the difference between the exercise price of the option and $22.00 times the number of shares underlying the option.