Hukku Rajesh 4
4 · Majesco · Filed Sep 21, 2020
Insider Transaction Report
Form 4
MajescoMJCO
Hukku Rajesh
Director
Transactions
- Disposition to Issuer
Stock option (right to purchase)
2020-09-21−50,000→ 0 totalExercise: $5.79Exp: 2028-06-07→ Common stock (50,000 underlying)
Footnotes (2)
- [F1]The options vest and become exercisable in installments of approximately 33.33% on an annual basis over a 3-year period commencing on June 7, 2018. Upon the Effective Date (as defined below) of the merger, the vesting of all unvested options was accelerated such that all unvested options became immediately exercisable.
- [F2]Disposition pursuant to the Amended and Restated Agreement and Plan of Merger dated as of August 8, 2020 by and among Majesco, Magic Intermediate, LLC and Magic Merger Sub, Inc. (the "Merger Agreement"). Pursuant to the Merger Agreement, on the effective date of the merger (September 21, 2020) (the "Effective Date"), each option to purchase shares of the Issuer's common stock, whether vested or unvested, was cancelled in exchange for the right to receive an amount in cash equal to the product of (a) the excess of $16.00 over the exercise price of such option multiplied by (b) the number of shares of Issuer common stock subject to such option.