CYTEC INDUSTRIES INC/DE/ 4
4 · CYTEC INDUSTRIES INC/DE/ · Filed Dec 11, 2015
Insider Transaction Report
Form 4
HOYNES LOUIS L JR
Director
Transactions
- Disposition to Issuer
Common Stock
2015-12-09$75.25/sh−27,790$2,091,198→ 0 total - Disposition to Issuer
Deferred Stock Award
2015-12-09$75.25/sh−31,185.543$2,346,712→ 0 total→ Common Stock (31,185.543 underlying)
Footnotes (2)
- [F1]Pursuant to the Agreement and Plan of Merger by and among Cytec Industries Inc., Solvay SA and Tulip Acquisition Inc. dated as of July 28, 2015 (as amended, the "Merger Agreement"), each of these shares was cancelled at the effective time of the merger and converted into the right to receive $75.25 in cash , less any applicable tax withholding. The total shares include restricted stock which were converted in the same manner but will not be payable until July 1, 2016, or later if a deferral election was made.
- [F2]Pursuant to the Merger Agreement, each right to receive shares of our common stock on a deferred basis ("Deferred Stock Award"), was cancelled and converted into a right to receive an amount in cash equal to the product obtained by multiplying (a) the number of shares underlying the Deferred Stock Award, by (b) the merger consideration of $75.25, less any applicable tax withholding payable at various times in the future depending on the recipient's previous deferral elections, but not before July 1, 2016.