Wilkas Thomas P 4
4 · BORLAND SOFTWARE CORP · Filed Jul 29, 2009
Insider Transaction Report
Form 4
Wilkas Thomas P
Chief Financial Officer
Transactions
- Disposition to Issuer
Common Stock
2009-07-27−100,000→ 0 total - Disposition to Issuer
Stock Option (Right to buy Common Stock)
2009-07-27$1.04/sh−250,000$260,000→ 0 totalExercise: $0.46Exp: 2009-03-31→ Common Stock (250,000 underlying)
Footnotes (2)
- [F1]This restricted stock award provided for vesting as follows: 50% of the shares would have vested on March 16, 2010 and 1/8th of the shares would have vested quarterly thereafter. The restricted stock award accelerated in full as a result of the merger under an Agreement and Plan of Merger between the issuer, Micro Focus (US),Inc., Micro Focus International plc and Bentley Merger Sub, Inc. dated May 5, 2009, as amended (the "Merger Agreement"), and was cancelled in exchange for a cash payment of $150,000, representing the difference between the grant price of the award of $0.00 and the consideration of $1.50 per share pursuant to the Merger Agreement.
- [F2]This option provided for vesting as follows: 25% of the option shares would have become exercisable on March 16, 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 $260,000, representing the difference between the exercise price of the option of $0.46 per share and the consideration of $1.50 per share pursuant to the Merger Agreement.