4//SEC Filing
SANDISK CORP 4
Accession 0001242648-16-000088
CIK 0001000180operating
Filed
May 12, 8:00 PM ET
Accepted
May 13, 6:55 PM ET
Size
20.4 KB
Accession
0001242648-16-000088
Insider Transaction Report
Form 4
SANDISK CORPSNDK
Robertson Donald F Jr
VP & Chief Accounting Officer
Transactions
- Disposition to Issuer
Employee Stock Option
2016-05-12−3,150→ 0 totalExercise: $48.85Exp: 2018-02-21→ Common Stock (3,150 underlying) - Disposition to Issuer
Employee Stock Option
2016-05-12−11,250→ 0 totalExercise: $74.59Exp: 2021-02-17→ Common Stock (11,250 underlying) - Disposition to Issuer
Employee Stock Option
2016-05-12−5,626→ 0 totalExercise: $47.79Exp: 2019-02-16→ Common Stock (5,626 underlying) - Disposition to Issuer
Employee Stock Option
2016-05-12−8,438→ 0 totalExercise: $51.71Exp: 2020-02-14→ Common Stock (8,438 underlying) - Disposition to Issuer
Employee Stock Option
2016-05-12−9,750→ 0 totalExercise: $82.20Exp: 2022-02-16→ Common Stock (9,750 underlying) - Disposition to Issuer
Common Stock
2016-05-12−18,799→ 0 total
Footnotes (10)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger, dated as of October 21, 2015 (the "Merger Agreement," and the merger contemplated thereby, the "Merger"), by and among SanDisk Corporation (the "Issuer"), Western Digital Corporation ("Western Digital") and Schrader Acquisition Corporation ("Merger Sub").
- [F10]Includes options for 2,437 shares of Issuer common stock that were vested prior to the Effective Time and options for 7,313 shares of Issuer common stock that remain unvested at the Effective Time.
- [F2]Includes 7,047 shares of Issuer common stock (including shares acquired pursuant to the Issuer's Employee Stock Purchase Plan) and 11,752 shares of unvested restricted stock units ("RSUs"). The initial award of these RSUs may have been disclosed on Table II of the applicable Form 4. Each RSU represents a contingent right to acquire one share of Issuer common stock.
- [F3]Disposed of pursuant to the Merger Agreement, whereby at the effective time of the Merger (the "Effective Time") each share of Issuer common stock was cancelled and automatically converted into the right to receive $67.50 in cash, without interest, and 0.2387 shares of Western Digital common stock (together, the "Merger Consideration"), with the fractional shares being paid in cash as provided in the Merger Agreement. The market value of the Merger Consideration is $76.18 per share, based on the trading price of Western Digital common stock as of end of trading on May 12, 2016.
- [F4]Pursuant to the Merger Agreement, each outstanding and unvested Issuer RSU was assumed and converted into that number of RSUs (rounded down to the nearest whole share) in respect of Western Digital common stock equal to the product of (i) the number of shares of Issuer common stock subject to such Issuer RSU and (ii) the quotient obtained by dividing (A) the volume weighted average trading price of Issuer common stock on Nasdaq for the five consecutive trading days ending on the trading day immediately preceding the Effective Time by (B) the volume weighted average trading price of Western Digital common stock on Nasdaq for the five consecutive trading days ending on the trading day immediately preceding the Effective Time (such quotient, the "Equity Conversion Ratio").
- [F5]This option provides for vesting with respect to 25% of the option shares on the first anniversary of the vesting commencement date, which was seven years before the identified expiration date, and the balance in equal quarterly installments over the next three years thereafter, subject in each case to continued service.
- [F6]Disposed of pursuant to the Merger Agreement, whereby at the Effective Time each outstanding and vested Issuer stock option other than any vested Issuer stock option that had an exercise price equal to or greater than the Merger Consideration (each such stock option, an "Underwater Option"), was cancelled and automatically converted into the right to receive the Merger Consideration, less the exercise price and any required withholdings applicable to such stock option (which exercise price and withholdings were first deducted from the stock portion of the vested option consideration, if any, to reduce the number of shares delivered to the Reporting Person, and thereafter reduced the cash delivered to the Reporting Person).
- [F7]Includes options for 5,625 shares of Issuer common stock that were vested prior to the Effective Time and options for 2,813 shares of Issuer common stock that remain unvested at the Effective Time.
- [F8]Pursuant to the Merger Agreement, each outstanding and unvested Issuer stock option and each Underwater Option was assumed and converted into an option to purchase that number of shares of Western Digital common stock (rounded down to the nearest whole share) equal to the product of (i) the number of shares of Issuer common stock subject to such Issuer stock option and (ii) the Equity Conversion Ratio, at an exercise price per share (rounded up to the nearest whole cent) equal to the quotient obtained by dividing (A) the exercise price applicable to such Issuer stock option immediately prior to the Effective Time by (B) the Equity Conversion Ratio.
- [F9]Includes options for 5,624 shares of Issuer common stock that were vested prior to the Effective Time and options for 5,626 shares of Issuer common stock that remain unvested at the Effective Time.
Documents
Issuer
SANDISK CORP
CIK 0001000180
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001000180
Filing Metadata
- Form type
- 4
- Filed
- May 12, 8:00 PM ET
- Accepted
- May 13, 6:55 PM ET
- Size
- 20.4 KB