PIANO CHRISTINE R 4
4 · Clifton Bancorp Inc. · Filed Apr 3, 2018
Insider Transaction Report
Form 4
PIANO CHRISTINE R
EVP, CFO & Treasurer
Transactions
- Disposition to Issuer
Common Stock
2018-04-02−1,362→ 0 total(indirect: By 401(k)) - Disposition to Issuer
Common Stock
2018-04-02−54,995→ 0 total - Disposition to Issuer
Common Stock
2018-04-02−36,848→ 0 total(indirect: By Stock Award) - Disposition to Issuer
Incentive Stock Option
2018-04-02−21,675→ 0 totalExercise: $13.84From: 2016-09-02Exp: 2025-09-02→ Common Stock (21,675 underlying) - Disposition to Issuer
Non-Qualified Stock Option
2018-04-02−49,974→ 0 totalExercise: $13.84From: 2016-09-02Exp: 2025-09-02→ Common Stock (49,974 underlying) - Disposition to Issuer
Common Stock
2018-04-02−44,283→ 0 total(indirect: By ESOP)
Footnotes (2)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger, dated as of November 1, 2017, by and among Kearny Financial Corp. ("Kearny") and Clifton Bancorp Inc. ("Clifton"). Clifton merged with and into Kearny, with Kearny continuing as the surviving entity (the "Merger"). At the effective time of the Merger (the "Effective Time"), each share of Clifton common stock issued and outstanding immediately prior to such time was converted into the right to receive 1.191 shares of Kearny common stock.
- [F2]At the Effective Time, pursuant to the Agreement and Plan of Merger, dated as of November 1, 2017, by and among Kearny Financial Corp. and Clifton Bancorp Inc., all stock options were cancelled and the reporting person received a cash payment equal to $18.25 per share minus the applicable exercise price of such stock option multiplied by each stock option held.