4//SEC Filing
SP Bancorp, Inc. 4
Accession 0001209191-14-064240
CIK 0001493182operating
Filed
Oct 21, 8:00 PM ET
Accepted
Oct 22, 10:13 AM ET
Size
10.7 KB
Accession
0001209191-14-064240
Insider Transaction Report
Form 4
SP Bancorp, Inc.SPBC
Cozby Christopher
Director
Transactions
- Disposition to Issuer
Common Stock
2014-10-17$29.55/sh−18,000$531,965→ 0 total - Disposition to Issuer
Stock Options
2014-10-17−3,000→ 0 totalExercise: $19.40From: 2014-11-21Exp: 2023-11-21→ Common Stock (3,000 underlying) - Disposition to Issuer
Stock Options
2014-10-17−2,500→ 0 totalExercise: $15.25From: 2013-11-29Exp: 2022-11-29→ Common Stock (2,500 underlying)
Footnotes (3)
- [F1]Effective October 17, 2014, pursuant to that certain Agreement and Plan of Merger, dated as of May 5, 2014 (the "Merger Agreement"), by and among the SP Bancorp, Inc., a Maryland corporation (the "Issuer"), Green Bancorp, Inc., a Texas corporation ("Green"), and Searchlight Merger Sub Corp., a Maryland corporation and wholly owned subsidiary of Green ("Merger Subsidiary"), the Issuer merged with and into Merger Subsidiary, with the Issuer continuing as the surviving corporation and a wholly owned subsidiary of Green (the "Merger"). At the effective time of the Merger, each outstanding share of the Issuer's common stock, par value $0.01 per share ("Common Stock"), was cancelled and converted into the right to receive $29.5536 in cash, without interest (the "Merger Consideration") on the terms and subject to the conditions set forth in the Merger Agreement.
- [F2]Includes 3,000 shares of restricted stock granted to the reporting person pursuant to the SP Bancorp, Inc. 2012 Equity Incentive Plan, which, at the effective time of the Merger, were automatically cancelled and converted into the right to receive the Merger Consideration, without any required action on the part of the reporting person.
- [F3]Each option to purchase shares of Common Stock was cancelled as of the effective time of the Merger in exchange for the right to receive an amount in cash equal to the product of (i) the positive difference, if any, of the Merger Consideration minus the exercise price per share of the applicable option multiplied by (ii) the number of shares of Common Stock subject to such option immediately prior to the effective time of the Merger (subject to deduction for any required withholding taxes).
Documents
Issuer
SP Bancorp, Inc.
CIK 0001493182
Entity typeoperating
IncorporatedMD
Related Parties
1- filerCIK 0001493182
Filing Metadata
- Form type
- 4
- Filed
- Oct 21, 8:00 PM ET
- Accepted
- Oct 22, 10:13 AM ET
- Size
- 10.7 KB