CROWLEY DAVID 4
4 · GREY WOLF INC · Filed Dec 29, 2008
Insider Transaction Report
Form 4
CROWLEY DAVID
Executive Vice President
Transactions
- Disposition to Issuer
Common Stock
2008-12-23−229,033→ 0 total - Tax Payment
Common Stock
2008-12-23$6.36/sh−94,336$599,977→ 229,033 total - Disposition to Issuer
Stock options (right to buy)
2008-12-23−122,400→ 0 totalExercise: $6.43→ Common Stock (122,400 underlying)
Footnotes (2)
- [F1]Pursuant to the merger agreement, as amended, by and among Grey Wolf, Inc., Precision Drilling Trust, Precision Drilling Trust, Precision Drilling Corporation and Precision Lobos Corporation (the "Merger Agreement"), each share of Grey Wolf common stock was converted into the right to receive either (a) $9.02 in cash or (b) 0.4225 of a Precision trust unit, subject to proration to preserve the mandatory aggregate cash consideration amount of approximately $1.12 billion, after taking into account all of the elections made by all of the Grey Wolf stockholders.
- [F2]This option was converted into Precision unit appreciation rights.