Norman Dennis 4
4 · POLYMER GROUP INC · Filed Jan 31, 2011
Insider Transaction Report
Form 4
POLYMER GROUP INCPOLGA.OB
Norman Dennis
Chief Financial Officer
Transactions
- Disposition to Issuer
Class A Common Stock
2011-01-28−26,685→ 0 total
Footnotes (1)
- [F1]These shares of restricted stock were disposed of pursuant to the Agreement and Plan of Merger (the Merger Agreement), dated October 4, 2010, among Polymer Group, Inc., Scorpio Acquisition Corporation, Scorpio Merger Sub Corporation and MatlinPatterson Global Opportunities Partners L.P. We refer to the transaction effected by such agreement as the Merger. As a result of the Merger, each restricted share was converted into the right to receive (i) upon the effective time of the Merger, an amount in cash equal to $15.32 and (ii) on each Escrow Release Date (as defined in the Merger Agreement), an amount in cash equal to the Per Share Escrow Payment (as defined in the Merger Agreement), in each case less any applicable withholding taxes.