WIRELESS FACILITIES INC 4
4 · WIRELESS FACILITIES INC · Filed Jul 28, 2003
Insider Transaction Report
Form 4
TAYEBI MASSIH
10% Owner
Transactions
- Other
Forward Contract (right/obligation to sell)
2003-07-24$12.01/sh−800,000$9,608,000→ 6,264,355 total(indirect: By Trust)
Footnotes (1)
- [F1]On July 24th, 2003, The Unity Trust entered into a binding term sheet for a prepaid variable share forward contract (the "Contract") with an unaffiliated third party (the "Buyer"). The contract dated July 24th, 2003 related to the disposition by the Unity Trust of 800,000 shares of Common Stock held by the Unity Trust (the "Contract Shares"). Specifically, the Contract obligates the Unity Trust to deliver to the buyer on July 24th, 2006 a number of shares of Common Stock equal to the product of the Exchange Rate times 800,000 shares.The Exchange Rate is equal to $12.01 per share. Pursuant to the Contract, The Unity Trust received from the Buyer $8,271,527.20 , representing the purchase price of the Contract Shares before expenses and fees.