SALIX PHARMACEUTICALS LTD 4
4 · SALIX PHARMACEUTICALS LTD · Filed Aug 26, 2014
Insider Transaction Report
Form 4
Scruggs Rick D
Executive Vice President
Transactions
- Award
Common Stock
2014-08-22$158.30/sh+18,559$2,937,890→ 87,370 total
Footnotes (1)
- [F1]In connection with the transaction contemplated by the Agreement and Plan of Merger, dated as of July 8, 2014, by and among Salix Pharmaceuticals, Ltd. ("Salix"), Cosmo Pharmaceuticals S.p.A., Cosmo Technologies Limited and Sangiovese, LLC (the "Transaction"), the Board of Directors of Salix approved special grants (the "Special Grants") of restricted stock to directors and eligible employees, including Rick D. Scruggs (the "Reporting Person"), intended to lessen the potential tax burden that would be triggered upon the completion of the Transaction. The reported transaction specified in this Form 4 consists solely of the shares of restricted stock granted to the Reporting Person pursuant to the Special Grants.