GERDELMAN JOHN W 4
4 · BROCADE COMMUNICATIONS SYSTEMS INC · Filed Nov 21, 2017
Insider Transaction Report
Form 4
GERDELMAN JOHN W
Director
Transactions
- Disposition to Issuer
Non-Qualified Stock Option (right to buy)
2017-11-17−20,000→ 0 totalExercise: $5.54→ Common Stock (20,000 underlying) - Disposition to Issuer
Restricted Stock Unit
2017-11-17−16,013→ 0 total→ Common Stock (16,013 underlying) - Disposition to Issuer
Common Stock
2017-11-17$12.75/sh−229,285$2,923,384→ 0 total - Disposition to Issuer
Non-Qualified Stock Option (right to buy)
2017-11-17−20,000→ 0 totalExercise: $6.84→ Common Stock (20,000 underlying) - Disposition to Issuer
Non-Qualified Stock Option (right to buy)
2017-11-17−20,000→ 0 totalExercise: $5.70→ Common Stock (20,000 underlying)
Footnotes (4)
- [F1]Pursuant to the terms of the Agreement and Plan of Merger, dated as of November 2, 2016 (the "Merger Agreement"), by and among Brocade Communications Systems, Inc. (the "Company"), Broadcom Limited, a limited company organized under the laws of the Republic of Singapore ("Ultimate Parent"), Broadcom Corporation, a California corporation and an indirect subsidiary of Ultimate Parent, and Bobcat Merger Sub, Inc., a Delaware corporation and a direct wholly owned subsidiary of Parent ("Merger Sub"), as assigned by Broadcom Corporation to LSI Corporation, a Delaware corporation ("Parent"), on November 17, 2017, Merger Sub merged with and into the Company (the "Merger"), and in connection therewith the Reporting Person disposed of these shares in exchange for $12.75 per share, without interest.
- [F2]Pursuant to the terms of the Merger Agreement and in connection with the Merger, this stock option was cancelled and converted into the right to receive a cash payment equal to the number of shares of Company common stock subject to such award multiplied by the excess of $12.75 over the exercise price per share of such award.
- [F3]Each restricted stock unit represents a contingent right to receive one share of Company common stock.
- [F4]Pursuant to the terms of the Merger Agreement and in connection with the Merger, this restricted stock unit award was cancelled and converted into the right to receive a cash payment equal to the number of shares of Company common stock subject to such award multiplied by $12.75.