Chaparral Steel CO 4
4 · Chaparral Steel CO · Filed Sep 17, 2007
Insider Transaction Report
Form 4
WILLIAMS ELIZABETH C
Director
Transactions
- Gift
Common Stock
2007-09-11−5,800→ 8,222 total - Disposition to Issuer
Common Stock
2007-09-14$86.00/sh−8,222$707,092→ 0 total - Disposition to Issuer
Stock Option (right to purchase)
2007-09-14$83.02/sh−24,008$1,993,024→ 0 totalExercise: $2.98Exp: 2012-10-15→ Common Stock (24,008 underlying) - Disposition to Issuer
Phantom Stock
2007-09-14$86.00/sh−40,480.07$3,481,286→ 0 total→ Common Stock (40,480.07 underlying)
Footnotes (3)
- [F1]These shares were disposed of in connection with Chaparral Steel Company's acquisition by Gerdau Ameristeel Corporation (effective September 14, 2007) (the "Acquisition"). Pursuant to the merger agreement, the reporting person is entitled to receive a cash payment equal to $86 multiplied by the number of shares which were disposed of in connection with the Acquisition.
- [F2]These options, including options which were scheduled to vest in the future, were cancelled in connection with the Acquisition. Pursuant to the merger agreement, the reporting person is entitled to receive a cash payment equal to the difference between $86 and the exercise price of the subject options multiplied by the number of options which were cancelled in connection with the Acquisition.
- [F3]These phantom shares were scheduled to convert to shares of common stock on a one for one basis after the reporting person ceased being a member of the issuer's Board of Directors. These phantom shares were disposed of in connection with the Acquisition. Pursuant to the merger agreement, the reporting person is entitled to receive a cash payment equal to $86 multiplied by the number of phantom shares disposed of in connection with the Acquisition.