SACHS ROBERT J 4
4 · BigBand Networks, Inc. · Filed Nov 23, 2011
Insider Transaction Report
Form 4
SACHS ROBERT J
Director
Transactions
- Disposition to Issuer
Stock Option (right to buy)
2011-11-21−50,000→ 0 totalExercise: $1.88Exp: 2016-04-04→ Common Stock (50,000 underlying) - Disposition to Issuer
Restricted Stock Units
2011-11-21−11,434→ 0 total→ Common Stock (11,434 underlying) - Disposition from Tender
Common Stock
2011-11-21$2.24/sh−26,717$59,846→ 0 total
Footnotes (5)
- [F1]Each restricted stock unit represents a contingent right to receive one share of BBND common stock.
- [F2]Pursuant to the provisions of the Issuer's Director Compensation Policy and the Merger Agreement between the Issuer and ARRIS Group, Inc. dated October 10, 2011 (the "Merger Agreement"), the restricted stock units vested in full upon the effectiveness of the merger.
- [F3]Pursuant to the Merger Agreement, the restricted stock units were cancelled in exchange for a cash payment of $25,612.16, which represents $2.24 for each outstanding unit.
- [F4]The option is fully vested and immediately exercisable.
- [F5]Pursuant to the Merger Agreement, the option was cancelled in exchange for a cash payment of $18,000.00, which represents the difference between $2.24 and the exercise price of the option per share.