National Interstate CORP 4
4 · National Interstate CORP · Filed Nov 14, 2016
Insider Transaction Report
Form 4
Gonzales Arthur J
VP, Sec'y and General Counsel
Transactions
- Disposition to Issuer
Common Shares ($.01 par value)
2016-11-10$32.00/sh−5,331$170,592→ 0 total - Disposition to Issuer
Option (Right to Buy)
2016-11-10$9.55/sh−40,000$382,000→ 0 totalExercise: $22.95From: 2010-01-01→ Common Shares ($.01 par value) (40,000 underlying)
Footnotes (2)
- [F1]Represents restricted shares. Disposed of pursuant to the Agreement and Plan of Merger, dated as of July 25, 2016, by and among Great American Insurance Company, GAIC Alloy, Inc., and National Interstate Corporation (the "Company"), as amended by Amendment No. 1, dated as of August 15, 2016 (the "Agreement and Plan of Merger"). Pursuant to the Agreement and Plan of Merger, effective as of November 10, 2016, these shares, whether vested or unvested, were automatically cancelled and converted into the the right to receive $32.00 per share in cash, less any required withholding taxes. In addition, the Company declared a special cash dividend of $0.50 per common share payable to shareholders of record immediately prior to the effective time of the merger.
- [F2]Disposed of pursuant to the Agreement and Plan of Merger, such options, whether vested or unvested, were cancelled and converted into the right to receive per share the excess of $32.50 over the per share exercise price, less any withholding taxes.