NOVAK RICHARD E 4
4 · BORLAND SOFTWARE CORP · Filed Jul 29, 2009
Insider Transaction Report
Form 4
NOVAK RICHARD E
SVP Worldwide Field Operations
Transactions
- Disposition to Issuer
Stock Option (Right to buy Common Stock)
2009-07-27$1.08/sh−75,000$81,000→ 0 totalExercise: $0.42Exp: 2019-02-27→ Common Stock (75,000 underlying)
Footnotes (1)
- [F1]This option provided for vesting as follows: 25% of the option shares would have become exercisable on February 27, 2010 and 1/48th of the shares would have vested each month thereafter. The option accelerated in full as a result of the merger under the Merger Agreement, and was cancelled in exchange for a cash payment of $81,000, representing the difference between the exercise price of the option of $0.42 per share and the consideration of $1.50 per share pursuant to the Merger Agreement.