FELSENTHAL DAVID L 4

Accession 0001209191-17-062113

CIK 0001157377other

View on SEC.gov Company Profile

Filed

Nov 20, 7:00 PM ET

Accepted

Nov 21, 5:01 PM ET

Size

36.9 KB

Accession

0001209191-17-062113

Insider Transaction Report

Form 4

Period: 2017-11-17

ADVISORY BOARD COABCO

FELSENTHAL DAVID L

President

Transactions

Disposition to Issuer
Restricted Stock Units
2017-11-17−8,256→ 0 total
→ Common Stock (8,256 underlying)
Disposition to Issuer
Non-LTIP Options
2017-11-17−36,824→ 0 total
Exercise: $57.83Exp: 2021-04-11→ Common Stock (36,824 underlying)
Disposition to Issuer
Non-LTIP Options
2017-11-17−74,800→ 0 total
Exercise: $28.20From: 2017-03-02Exp: 2023-03-02→ Common Stock (74,800 underlying)
Disposition to Issuer
Non-LTIP Options
2017-11-17−163,264→ 0 total
Exercise: $28.20Exp: 2023-03-02→ Common Stock (163,264 underlying)
Disposition to Issuer
Common Stock
2017-11-17−60,525→ 0 total
Disposition to Issuer
Non-LTIP Options
2017-11-17−24,040→ 0 total
Exercise: $43.83From: 2017-04-17Exp: 2019-04-17→ Common Stock (24,040 underlying)
Disposition to Issuer
Non-LTIP Options
2017-11-17−29,344→ 0 total
Exercise: $47.87From: 2016-04-18Exp: 2018-04-18→ Common Stock (29,344 underlying)
Disposition to Issuer
LTIP Options
2017-11-17−200,766→ 0 total
Exercise: $51.43Exp: 2021-06-23→ Common Stock (200,766 underlying)
Disposition to Issuer
Non-LTIP Options
2017-11-17−32,216→ 0 total
Exercise: $24.23From: 2016-04-15Exp: 2018-04-15→ Common Stock (32,216 underlying)
Disposition to Issuer
Non-LTIP Options
2017-11-17−29,344→ 0 total
Exercise: $47.87Exp: 2020-04-18→ Common Stock (29,344 underlying)
Disposition to Issuer
Non-LTIP Options
2017-11-17−48,348→ 0 total
Exercise: $53.42Exp: 2022-04-10→ Common Stock (48,348 underlying)
Disposition to Issuer
Restricted Stock Units
2017-11-17−4,377→ 0 total
→ Common Stock (4,377 underlying)
Disposition to Issuer
Non-LTIP Options
2017-11-17−24,000→ 0 total
Exercise: $46.95Exp: 2024-03-28→ Common Stock (24,000 underlying)

Footnotes (13)

[F1]On November 17, 2017, pursuant to that certain Agreement and Plan of Merger, dated as of August 28, 2017 (the "Merger Agreement"), by and among The Advisory Board Company (the "Issuer"), OptumInsight, Inc. ("Optum"), a wholly owned subsidiary of UnitedHealth Group Incorporated ("UnitedHealth"), and Apollo Merger Sub, Inc., a wholly owned subsidiary of Optum ("Merger Sub"), Merger Sub merged with and into the Issuer, with the Issuer surviving as a wholly owned subsidiary of Optum (the "Merger"). Immediately preceding the Merger, the Issuer completed the sale of its education business to Avatar Holdco, LLC and EAB Global, Inc. (collectively, "Education Buyer" and formed by Vista Equity Partners Fund VI, L.P.) pursuant to that certain Stock and Asset Purchase Agreement, dated August 28, 2017, by and among the Issuer and the Education Buyer.
[F10]The options to purchase the Issuer Common Stock become exercisable in four equal annual installments beginning on March 2, 2017.
[F11]The options to purchase the Issuer Common Stock become exercisable in four equal annual installments beginning on April 1, 2018.
[F12]Stock options vest if performance conditions are met under the special long-term incentive program as described in the Issuer's Definitive Proxy Statement filed April 21, 2017.
[F13]Each "LTIP Option," which represents a non-qualified stock option granted pursuant to the 2014 supplemental long-term incentive program that is not vested in accordance with its terms and outstanding immediately prior to the Merger, was cancelled and converted into the right to receive an amount in cash, without interest, equal to the product of (1) the excess, if any, of (A) the Per Share Merger Consideration over (B) the per-share exercise price for such option, multiplied by (2) the total number of shares of Issuer Common Stock underlying each such option, with payment of the resulting amount to be made, less applicable withholding taxes, within two business days following the Merger.
[F2]Disposed of pursuant to the Merger Agreement and by virtue of the Merger, in which each share of the Issuer's common stock, par value $0.01 per share ("Issuer Common Stock"), issued and outstanding immediately prior to the completion of the Merger was converted into the right to receive $53.81 in cash, without interest (the "Per Share Merger Consideration"), consisting of (i) $52.65 in cash, plus (ii) an additional amount in cash equal to $1.16, calculated in accordance with the Merger Agreement based on the per-share, after-tax value of the Issuer's equity interests in Evolent Health, Inc. Pursuant to the Merger Agreement and by virtue of the Merger, each share of common stock of Merger Sub outstanding immediately prior to the Merger was converted into one share of Issuer Common Stock, as the surviving corporation in the Merger, and constitutes the only outstanding shares of the Issuer.
[F3]Represents restricted stock units (each, an "RSU") that were outstanding immediately prior to the Merger. By their terms, prior to the Merger, each RSU represented a contingent right to one share of Issuer Common Stock. Each was cancelled and converted into the right to receive an amount in cash, without interest, equal to the product of (i) the Per Share Merger Consideration, multiplied by (2) the total number of shares of Issuer Common Stock subject to such award, which resulting amount will vest and become payable in accordance with the vesting schedule, deferral election (if any), terms and conditions applicable to such awards prior to the Merger.
[F4]The RSUs vest in four equal installments on May 11, 2015; April 11, 2016; April 11, 2017; and April 11, 2018, unless deferred. Upon vesting, each RSU is settled by the delivery of the underlying shares of common stock or payment of the current cash value of the vested shares, at the discretion of the Issuer.
[F5]The RSUs vest in four equal installments on May 10, 2016; April 10, 2017; April 10, 2018; and April 10, 2019, unless deferred. Upon vesting, each RSU is settled by the delivery of the underlying shares of common stock or payment of the current cash value of the vested shares, at the discretion of the Issuer.
[F6]Each "Non-LTIP Option," which represents a non-qualified stock option other than an LTIP Option (as defined below) that is outstanding immediately prior to the Merger, whether vested or unvested, was cancelled and converted into the right to receive an amount in cash, without interest, equal to the product of (1) the excess, if any, of (A) the Per Share Merger Consideration over (B) the per-share exercise price for such option, multiplied by (2) the total number of shares of Issuer Common Stock underlying each such option, which resulting amount will vest and become payable in accordance with the vesting schedule, terms and conditions applicable to such awards prior to the Merger. Each Non-LTIP Option with a per-share exercise price that is equal to or greater than the Per Share Merger Consideration was cancelled without consideration.
[F7]The options to purchase the Issuer Common Stock become exercisable in two equal annual installments beginning on April 18, 2016.
[F8]The options to purchase the Issuer Common Stock become exercisable in four equal annual installments beginning on April 11, 2015.
[F9]The options to purchase the Issuer Common Stock become exercisable in four equal annual installments beginning on April 10, 2016.

Documents

1 file

4
doc4.xmlPrimary
FORM 4 SUBMISSION

Issuer

ADVISORY BOARD CO

CIK 0001157377

→

Entity typeother

Related Parties

filerCIK 0001204942

Filing Metadata

Form type: 4
Filed: Nov 20, 7:00 PM ET
Accepted: Nov 21, 5:01 PM ET
Size: 36.9 KB

View on SEC.gov