JO-ANN STORES INC 4
4 · JO-ANN STORES INC · Filed Mar 22, 2011
Insider Transaction Report
Form 4
MORRISON PATRICIA
Director
Transactions
- Disposition to Issuer
Stock Options (Right to Buy)
2011-03-18$31.62/sh−8,600$271,932→ 0 totalExercise: $29.38From: 2011-03-18Exp: 2011-03-18→ Common Stock (8,600 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) - Disposition to Issuer
Common Stock
2011-03-18$61.00/sh−26,209$1,598,749→ 0 total - Disposition to Issuer
Stock Options (Right to Buy)
2011-03-18$33.58/sh−8,600$288,788→ 0 totalExercise: $27.42From: 2011-03-18Exp: 2011-03-18→ Common Stock (8,600 underlying)
Footnotes (3)
- [F1]Disposed of 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 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.
- [F3]Disposed of pursuant to the Merger Agreement. Options, whether vested or unvested, were cancelled and converted into the right to receive per share the excess of $61.00 over the per share exercise price, less any required withholding taxes.