4//SEC Filing
Franklin Financial Corp 4
Accession 0001225208-15-000790
CIK 0001505823operating
Filed
Jan 5, 7:00 PM ET
Accepted
Jan 6, 4:25 PM ET
Size
12.7 KB
Accession
0001225208-15-000790
Insider Transaction Report
Form 4
Harrison Hugh T II
Director
Transactions
- Disposition to Issuer
Common Stock
2015-01-02−9,000→ 0 total(indirect: Restricted Stock) - Disposition to Issuer
Stock Option (Right to Buy)
2015-01-02−37,000→ 0 totalExercise: $13.42Exp: 2022-03-29→ Common Stock (37,000 underlying) - Disposition to Issuer
Common Stock
2015-01-02−2,720→ 0 total(indirect: Restricted Stock II) - Disposition to Issuer
Stock Option (Right to Buy)
2015-01-02−8,800→ 0 totalExercise: $18.40From: 2014-10-04Exp: 2023-10-04→ Common Stock (8,800 underlying) - Disposition to Issuer
Common Stock
2015-01-02−13,409→ 0 total
Footnotes (3)
- [F1]Pursuant to the Agreement and Plan of Reorganization, dated as of July 14, 2014, by and among TowneBank, Franklin Financial Corporation ("Franklin") and Franklin Federal Savings Bank, at the effective time of the merger each share of Franklin was exchanged for 1.40 shares of common stock of TowneBank and cash paid in lieu of fractional shares.
- [F2]Pursuant to the Agreement and Plan of Reorganization, as of the effective time of the merger all outstanding Franklin restricted stock awards vested (if not already vested) and each share of Franklin common stock that was formerly a Franklin restricted stock award was converted into 1.40 shares of TowneBank common stock.
- [F3]Pursuant to the Agreement and Plan of Reorganization, each option to purchase shares of Franklin common stock, whether vested or unvested, that was outstanding immediately prior to the effective date of the merger was converted into cash in an amount equal to the product of (i) the average of the closing price per share of TowneBank common stock for a specified period prior to the closing date of the merger multiplied by the exchange ratio minus the per share exercise price of such option, and (ii) the number of shares of Franklin common stock subject to such option.
Documents
Issuer
Franklin Financial Corp
CIK 0001505823
Entity typeoperating
Related Parties
1- filerCIK 0001505823
Filing Metadata
- Form type
- 4
- Filed
- Jan 5, 7:00 PM ET
- Accepted
- Jan 6, 4:25 PM ET
- Size
- 12.7 KB