Oakes Patrick Timothy 4
4 · Atlantic Capital Bancshares, Inc. · Filed Mar 3, 2022
Insider Transaction Report
Form 4
Oakes Patrick Timothy
EVP, CFO, Sec. & Treasurer
Transactions
- Disposition to Issuer
Common Stock
2022-03-01−31,411→ 0 total - Disposition to Issuer
Employee Stock Option (right to buy)
2022-03-01−50,000Exercise: $15.00From: 2020-11-02Exp: 2025-11-02→ Common Stock (50,000 underlying)
Footnotes (2)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger, dated as of July 22, 2021 (the "Merger Agreement"), by and between SouthState Corporation ("Southstate") and Atlantic Capital Bancshares, Inc. ("Atlantic Capital"), pursuant to which Atlantic Capital merged with and into SouthState (the "Merger") on March 1, 2022. Pursuant to the Merger Agreement, each share of Atlantic Capital common stock issued and outstanding immediately prior to the effective time of the Merger (the "Effective Time") (other than certain shares held by Atlantic Capital or SouthState) was converted into the right to receive 0.3600 (the "Exchange Ratio") shares of SouthState common stock. The price of SouthState common stock on NASDAQ at the Effective Time was $90.00.
- [F2]Disposed of pursuant to the Merger Agreement; each outstanding option to purchase shares of Atlantic Capital common stock ("Atlantic Capital Option"), whether vested or unvested, was converted into an option to purchase shares of SouthState common stock ("SouthState Option"), with the number of shares underlying such SouthState Option and the applicable exercise price adjusted based on the Exchange Ratio. Following the Effective Time, SouthState Options, otherwise remain subject to the same terms and conditions as were applicable to the corresponding Atlantic Capital Options immediately prior to the Effective Time.