Hwang In Seon 4
4 · Targa Resources Corp. · Filed Dec 14, 2010
Insider Transaction Report
Form 4
Hwang In Seon
Director
Transactions
- Sale
Common Stock
2010-12-10$22.00/sh−17,167,918$377,694,196→ 13,889,431 total(indirect: See footnote) - Conversion
Series B Preferred Stock
2010-12-10−5,630,283→ 0 total(indirect: See footnote)→ Common Stock (31,057,349 underlying)
Footnotes (5)
- [F1]Includes 31,057,349 shares of common stock as a result of the conversion of the Series B Stock discussed in footnote 5.
- [F2]Reflects a 1 for 2.03 reverse stock split.
- [F3]These shares are owned by Warburg Pincus Private Equity VIII, L.P., a Delaware limited partnership and two affiliated partnerships ("WP VIII"), and Warburg Pincus Private Equity IX, L.P., a Delaware limited partnership ("WP IX"). The general partner of WP VIII is Warburg Pincus Partners, LLC, a New York limited liability company ("WP Partners LLC"), and the general partner of WP IX is Warburg Pincus IX, LLC, a New York limited liability company, of which WP Partners LLC is the sole member. Warburg Pincus & Co., a New York general partnership ("WP"), is the managing member of WP Partners LLC. WP VIII and WP IX are managed by Warburg Pincus LLC, a New York limited liability company ("WP LLC"). Mr. Hwang is a Partner of WP and a Managing Director and Member of WP LLC.
- [F4]Mr. Hwang disclaims beneficial ownership of all shares held by the Warburg Pincus entities.
- [F5]Immediately prior to the consummation of the initial public offering of Targa Resources Corp. (the "IPO"), the Series B Preferred Stock converted into shares of common stock based on (a) the 10 to 1 conversion ratio applicable to the Series B Preferred Stock plus (b) the accreted value per share, which includes accrued and unpaid dividends of the Series B Preferred Stock divided by the IPO price for Targa's offering of common stock after deducting underwriting discounts and commissions and had no expiration date.