Ledbetter Reta Laurie 4
4 · State National Companies, Inc. · Filed Nov 17, 2017
Insider Transaction Report
Form 4
Ledbetter Reta Laurie
10% Owner
Transactions
- Disposition to Issuer
Common Stock
2017-11-17$21.00/sh−346,631$7,279,251→ 123,266 total - Disposition to Issuer
Common Stock
2017-11-17−123,266→ 0 total - Disposition to Issuer
Common Stock
2017-11-17$21.00/sh−4,195,582$88,107,222→ 0 total(indirect: By Trust) - Disposition to Issuer
Options
2017-11-17$11.00/sh−1,473,333$16,206,663→ 0 totalExercise: $10.00Exp: 2024-06-25→ Common Stock (1,473,333 underlying)
Footnotes (4)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger ("merger agreement"), dated as of July 26, 2017, by and among Issuer, Markel Corporation and Markelverick Corporation for a cash payment of the per share price noted.
- [F2]These shares are held directly by Terry Lee Ledbetter.
- [F3]In connection with the closing under the merger agreement, each option was cancelled in the merger in exchange for a cash payment of $16,206,663, representing the difference between $21.00 and the exercise price.
- [F4]The stock options vested in three equal annual installments beginning 06/25/2015.