GUMBERG IRA J 4
4 · JO-ANN STORES INC · Filed Mar 22, 2011
Insider Transaction Report
Form 4
GUMBERG IRA J
Director
Transactions
- Disposition to Issuer
Phantom Stock Units
2011-03-18$61.00/sh−6,828$416,508→ 0 totalExercise: $0.00From: 2011-03-18Exp: 2011-03-18→ Common Stock (6,828 underlying) - Disposition to Issuer
Restricted Stock Units
2011-03-18$61.00/sh−2,769$168,909→ 0 totalExercise: $0.00From: 2011-03-18Exp: 2011-03-18→ Common Stock (2,769 underlying)
Footnotes (2)
- [F1]Accelerated conversion of restricted stock units into common stock on a one-to-one basis pursuant to the merger agreement, dated as of December 23, 2010, by and among the Company, Needle Holdings Inc. and Needle Merger Sub Corp. (the "Merger Agreement"). Pursuant to the Merger Agreement, effective as of March 18, 2011, the Company's common shares were automatically cancelled and converted into the right to receive $61.00 in cash.
- [F2]Accelerated conversion of phantom stock units that were accrued under the 1998 Incentive Compensation Plan and/or the 2008 Incentive Compensation Plan and the rules thereunder, into common stock on a one-to-one basis pursuant to the merger agreement, dated as of December 23, 2010, by and among the Company, Needle Holdings Inc. and Needle Merger Sub Corp. (the "Merger Agreement"). Pursuant to the Merger Agreement, effective as of March 18, 2011, the Company's common shares were automatically cancelled and converted into the right to receive $61.00 in cash.