DOT HILL SYSTEMS CORP 4
4 · DOT HILL SYSTEMS CORP · Filed Oct 8, 2015
Insider Transaction Report
Form 4
SAMPIAS ERNEST J
Director
Transactions
- Disposition to Issuer
Common Stock
2015-10-06−5,000→ 0 total - Disposition to Issuer
Director Stock Option (Right to Buy)
2015-10-06−25,000→ 0 totalExercise: $6.44Exp: 2022-05-03→ Common Stock (25,000 underlying)
Footnotes (2)
- [F1]Disposed of pursuant to an Agreement and Plan of Merger (the "Merger Agreement"), dated August 18, 2015, among the Issuer, Seagate HDD Cayman ("Parent"), and Denali Acquisition Sub Corp., a wholly-owned subsidiary of Parent ("Merger Sub"), in exchange for cash consideration of $9.75 per share, without interest, subject to any required withholding of taxes. Pursuant to the Merger Agreement, Merger Sub merged with and into the Issuer, with the Issuer continuing as the surviving corporation (the "Merger").
- [F2]This option, which provided for vesting of the shares subject to the option in equal monthly installments over the four years following May 4, 2014, was cancelled in the Merger in exchange for a cash payment equal to $9.75 per vested share, minus the per share exercise price of the option, subject to any applicable tax withholdings. In connection with the Merger, the vesting of 50% of the shares subject to the stock option was accelerated and became fully vested and exercisable effective immediately prior to the effective time of the Merger.