WINSTON HOTELS INC 4
4 · WINSTON HOTELS INC · Filed Jul 2, 2007
Insider Transaction Report
Form 4
DAUGHERTY RICHARD L
Director
Transactions
- Disposition to Issuer
Common Stock
2007-07-01$15.00/sh−50,481$757,215→ 0 total - Disposition to Issuer
Option
2007-07-01−2,000→ 0 totalExercise: $9.38From: 1999-05-18Exp: 2007-07-01→ Common Stock (2,000 underlying)
Footnotes (3)
- [F1]Includes 19,481 shares earned under the following section of the Winston Hotels, Inc. Stock Incentive Plan. "Dividend Equivalent" means the amount determined by multiplying (x) the value of the dividend paid on one share of Company common stock and (y) the number of notional shares (including any fraction) of Company common stock credited to a Participant?s Company Stock Account on the record date for the dividend payment.
- [F2]Disposed of for $15.00 in cash pursuant to a merger agreement by and among Winston Hotels, Inc., WINN Limited Partnership, Inland American Real Estate Trust, Inc. and Inland American Acquisition (Winston), LLC (the "Merger Agreement").
- [F3]Pursuant to the Merger Agreement, each outstanding option held by the reporting person was terminated and cancelled in exhange for the right to receive $5.625, which represents the amount by which the common share merger consideration ($15.00) exceeds the option exercise price.