4//SEC Filing
SHETH JAGDISH N 4
Accession 0001209202-05-000003
CIK 0000072418other
Filed
Jan 26, 7:00 PM ET
Accepted
Jan 27, 4:01 PM ET
Size
12.7 KB
Accession
0001209202-05-000003
Insider Transaction Report
Form 4
NORSTAN INCNRRD
SHETH JAGDISH N
Director
Transactions
- Disposition to Issuer
Stock Option (Right to Buy)
2005-01-25−37,500→ 0 total→ Common Stock (37,500 underlying) - Disposition from Tender
Common Stock
2005-01-25$5.60/sh−25,760$144,256→ 0 total - Disposition to Issuer
Stock Options (Right to Buy)
2005-01-25−30,000→ 0 total→ Common Stock (30,000 underlying)
Footnotes (4)
- [F1]Disposed of pursuant to Agreement and Plan of Merger dated as of December 20, 2004 between Black Box Corporation and Norstan, Inc. in exchange for $5.60 per share on the acceptance of the Tender Offer by Black Box Corporation.
- [F2]The options expire ten years from the date of grant except for the option dated 9/15/2004 which expires seven years from the date of grant.
- [F3]These options were canceled pursuant to the Agreement and Plan of Merger dated as of December 20, 2004 between Black Box Corporation and Norstan, Inc. in exchange for a cash payment of $88,200 which represents the difference between the various exercise prices of the options and the $5.60 per share tender offer price paid by Black Box Corporation pursuant to the Tender Offer. These options were: 1)On 9/14/2000, 5,000 shares granted at $4.77 vesting upon grant; 2) On 3/20/2001, 5,000 shares granted at $1.11 vesting upon grant; 3) On 9/13/2001, 5,000 shares granted at $3.69 vesting upon grant; 4) On 9/13/2002, 7,500 shares granted at $3.47 vesting upon grant; 5) On 9/18/2003, 7,500 shares granted at $3.25 vesting upon grant and 6) On 9/15/2004, 7,500 shares granted at $3.14 vesting upon grant.
- [F4]These options were canceled pursuant to the Agreement and Plan of Merger dated as of December 20, 2004 between Black Box Corporation and Norstan, Inc.. These options had various exercise prices each greater than the $5.60 per share Tender Offer price and were thus canceled on the effective date of the merger without payment of any consideration therefor. These options were: 1) On 9/20/1995, 20,000 shares granted at $12.50 vesting over five equal installments on 3/20/1996, 9/20/1996, 9/20/1997, 9/20/1998 and 9/20/1999; 2) On 9/26/1997, 3,000 shares granted at $20.06 vesting over three equal annual installments beginning 9/26/2000; 3) On 9/24/1998, 1,000 shares granted at $18.31 vesting upon grant; 4) On 9/21/1999, 3,000 shares granted at $9.00 vesting upon grant and 5) On 3/13/2000, 3,000 shares granted at $7.19 vesting upon grant.
Documents
Issuer
NORSTAN INC
CIK 0000072418
Entity typeother
Related Parties
1- filerCIK 0001209202
Filing Metadata
- Form type
- 4
- Filed
- Jan 26, 7:00 PM ET
- Accepted
- Jan 27, 4:01 PM ET
- Size
- 12.7 KB