WONG SEAN P 4
4 · WESTAFF INC · Filed Mar 23, 2009
Insider Transaction Report
Form 4
WESTAFF INCwstf
WONG SEAN P
VP & Controller
Transactions
- Disposition to Issuer
Stock Options
2009-03-19−75,000→ 0 totalExercise: $0.41Exp: 2015-11-02→ Common Stock (75,000 underlying)
Footnotes (2)
- [F1]The option vest as follows: 25% of the Shares subject to the Option would vest one (1) year after the Vesting Commencement Date and the balance of the Shares subject to the Option would vest at the rate of 25% on each annual anniversary of the Vesting Commencement Date thereafter.
- [F2]These 75,000 stock options were disposed of in connection with the consummation of the merger (the "Merger") contemplated by that certain Agreement and Plan of Merger, dated as of January 28, 2009, by and among Westaff, Inc., Koosharem Corporation and Select Merger Sub Inc. These options were cancelled in the Merger for the right to receive, within 10 business days following the Merger, $63,000 in cash.