Horizon Lines, Inc. 4
4 · Horizon Lines, Inc. · Filed May 29, 2015
Insider Transaction Report
Form 4
Avara Michael
Sr Vice President and CFO
Transactions
- Disposition from Tender
Common Stock
2015-05-29$0.72/sh−3,757$2,705→ 0 total - Disposition from Tender
Restricted Stock Unit
2015-05-29−616,667→ 0 total→ Common Stock (616,667 underlying)
Footnotes (2)
- [F1]Each restricted stock unit entitles the executive to receive a cash payment equal to the Fair Market Value of a share of Horizon Lines, Inc. Common Stock.
- [F2]Pursuant to that certain Agreement and Plan of Merger, dated as of November 11, 2014, as amended by Amendment No. 1, dated as of February 13, 2015 (as amended, the "Merger Agreement"), by and among Matson Navigation Company, Inc. ("Matson"), Hogan Acquisition, Inc., a wholly owned subsidiary of Matson ("Merger Sub") and the Issuer, the Issuer merged with and into Merger Sub, with the Issuer continuing as the surviving corporation (the "Merger") on May 29, 2015. Pursuant to the terms of the Merger Agreement, each restricted stock unit was converted into a vested right to receive cash in an amount equal to $0.72.