Welsh Garry 4
4 · GEVITY HR INC · Filed Jun 1, 2009
Insider Transaction Report
Form 4
GEVITY HR INCgvhr
Welsh Garry
SVP & Chief Financial Officer
Transactions
- Disposition to Issuer
Stock Option
2009-06-01−60,000→ 0 totalExercise: $14.07→ Common Stock (60,000 underlying) - Disposition to Issuer
Common Stock
2009-06-01$4.00/sh−7,906$31,624→ 71,250 total - Disposition to Issuer
Stock Option
2009-06-01$1.88/sh−50,000$94,000→ 0 totalExercise: $2.12→ Common Stock (50,000 underlying) - Disposition to Issuer
Common Stock
2009-06-01−46,000→ 0 total - Disposition to Issuer
Common Stock
2009-06-01$4.00/sh−25,250$101,000→ 46,000 total
Footnotes (4)
- [F1]On June 1, 2009 Gevity HR, Inc. was acquired by TriNet Group, Inc. with TriNet paying $4.00 for each share of Gevity common stock outstanding (the Merger). Dispositions by reporting person in the Merger were approved in advance by the Gevity board of directors.
- [F2]In connection with the terms of the Merger, restricted stock held by reporting person subject to time vesting was converted into the $4.00 per share merger consideration.
- [F3]In connection with the terms of the Merger, restricted stock held by reporting person subject to performance vesting was cancelled without consideration.
- [F4]In connection with the terms of the Merger, each stock option was cancelled and reporting person received consideration equal to the number of shares subject of the option multiplied by the difference between the exercise price and $4.00, with no consideration being paid for stock options having exercise prices greater than $4.00.