REED JOHN BURWELL JR 4
4 · GLOBAL INDUSTRIES LTD · Filed Dec 2, 2011
Insider Transaction Report
Form 4
REED JOHN BURWELL JR
DirectorCEO
Transactions
- Disposition to Issuer
Common Stock
2011-12-01$8.00/sh−340,000$2,720,000→ 0 total - Disposition to Issuer
Non-qualified stock option
2011-12-01−150,000→ 0 totalExercise: $7.14From: 2011-03-02Exp: 2020-03-02→ Common stock (150,000 underlying) - Disposition to Issuer
Performance units
2011-12-01$8.00/sh−400,000$3,200,000→ 0 totalExercise: $0.00→ Common stock (400,000 underlying)
Footnotes (3)
- [F1]Disposed of pursuant to the terms of the Agreement and Plan of Merger by and among the issuer, Technip S.A. and Apollon Merger Sub B, Inc. dated September 11, 2011 (the "Merger Agreement") in exchange for $8.00 per share (the "Merger Consideration") upon closing of the merger.
- [F2]This option was cancelled pursuant to the terms of the Merger Agreement in exchange for cash equal to the difference between the Merger Consideration and the option exercise price multiplied by the number of shares of the issuer's common stock subject to the option.
- [F3]Performance units were cancelled pursuant to the terms of the Merger Agreement in exchange for cash equal to the Merger Consideration multiplied by the number of common stock issuable pursuant to such performance units assuming achievement of the target level of performance applicable to such performance units.