TROY FINANCIAL CORP 4
4 · TROY FINANCIAL CORP · Filed Jan 21, 2004
Insider Transaction Report
Form 4
FLEMING MICHAEL E
Director
Transactions
- Sale
Common Stock
2004-01-16$35.50/sh−26,726$948,773→ 21,444 total - Disposition to Issuer
Employee Stock Option (right to buy)
2004-01-16$10.30/sh−42,485$437,494→ 0 totalExercise: $10.30From: 2004-01-16Exp: 2009-09-30→ Common Stock (42,485 underlying)
Footnotes (1)
- [F1]This option, which provided for vesting in five equal annual installments beginning October 1, 2000, was cancelled in the merger in exchange for a cash payment of $1,070,723.96, representing the difference between the exercise price of the option and the market value of the underlying Troy Financial Corporation common stock on the effective date of the merger ($35.50 per share).