Andrews Wayne 4
4 · NORSTAN INC · Filed Jan 27, 2005
Insider Transaction Report
Form 4
NORSTAN INCNRRD
Andrews Wayne
Director
Transactions
- Disposition to Issuer
Stock Option (Right to Buy)
2005-01-25$3.76/sh−20,000$75,200→ 0 totalExercise: $3.76Exp: 2011-10-18→ Common Stock (20,000 underlying)
Holdings
- 0
Common Stock
Footnotes (2)
- [F1]This option was cancelled pursuant to the Agreement and Plan of Merger dated as of December 20, 2004 between Black Box Corporation and Norstan, Inc in exchange for a cash payment of $36,800 which represents the difference between the exercise price of the option and the $5.60 per share tender offer price paid by Black Box Corporation pursuant to the Tender Offer. The option dated 10/18/2004 was for 20,000 shares at $3.76 vesting 35% upon grant, 35% on 10/18/2005 and the remaining 30% vest on 10/18/2006.
- [F2]This option vested 35% upon grant, 35% on 10/18/2005 and the remaining 30% vest on 10/18/2006.