BACK YARD BURGERS INC 4
4 · BACK YARD BURGERS INC · Filed Nov 5, 2007
Insider Transaction Report
Form 4
HENKE W KURT
Director
Transactions
- Disposition to Issuer
Common Stock
2007-11-05$6.50/sh−7,500$48,750→ 0 total - Disposition to Issuer
Stock Option (right to buy)
2007-11-05−5,000→ 0 totalExercise: $3.90From: 2003-07-01Exp: 2013-01-01→ Common Stock (5,000 underlying)
Footnotes (3)
- [F1]Disposed of in connection with the merger of Issuer with BBAC Merger Sub, Inc. effective November 5, 2007 (the "Merger") pursuant to the Agreement and Plan of Merger dated as of June 10, 2007 by and among Issuer, BBAC, LLC, and BBAC Merger Sub, Inc. In connection with the Merger, outstanding shares of Issuer's common stock were exchanged for the right to receive $6.50 per share.
- [F2]Fully vested on this date.
- [F3]This stock option was cancelled in the Merger in exchange for a cash payment equal to (i) the excess, if any, between the Merger consideration of $6.50 over the exercise price of the stock option, multiplied by (ii) the number of shares of common stock subject to the stock option.