BRADY LARRY D 4
4 · PACTIV CORP · Filed Nov 18, 2010
Insider Transaction Report
Form 4
PACTIV CORPPTV
BRADY LARRY D
Director
Transactions
- Disposition to Issuer
Common Stock
2010-11-16$33.25/sh−4,157$138,220→ 0 total - Disposition to Issuer
Director Stock Option
2010-11-16$33.25/sh−6,000$199,500→ 0 totalExercise: $23.98From: 2005-03-14Exp: 2014-09-14→ Common Stock (6,000 underlying) - Disposition to Issuer
Stock Equivalent Units
2010-11-16$33.25/sh−39,421$1,310,748→ 0 total→ Common Stock (39,421 underlying)
Footnotes (4)
- [F1]Disposed of pursuant to the merger (the "Merger") of the issuer with Reynolds Acquisition Corporation ("Reynolds Acquisition") in accordance with the Agreement and Plan of Merger dated August 16, 2010, among issuer, Rank Group Limited, Reynolds Group Holdings Limited, and Reynolds Acquisition (the "Agreement").
- [F2]Represents per share merger consideration under the Agreement.
- [F3]Each stock option of the issuer became exercisable in full upon consummation of the Merger and was cancelled in the Merger in exchange for a cash payment per share equal to the difference between the exercise price of the option and $33.25. Options with an exercise price of $33.25 or more were cancelled in the Merger and are not shown on Table II of this Report.
- [F4]Stock Equiv. Units (?SEUs?) acquired and held pursuant to the Pactiv Corp. Deferred Comp Plan are payable in cash or stock upon the holder's death, termination of employment or service as a director, or at the time specified in the holder's Deferral Election and convert into common stock on a one-for-one basis. Disposition of SEUs pursuant to the Merger in accordance with the Agreement was made in a lump sum cash payment in accordance with the terms and conditions set forth in the Deferred Comp Plan.