ReachLocal Inc 4
4 · ReachLocal Inc · Filed Aug 10, 2016
Insider Transaction Report
Form 4
ReachLocal IncRLOC
SALZMAN ALAN E
Director10% Owner
Transactions
- Disposition from Tender
Common Stock
2016-08-08$4.60/sh−8,536$39,266→ 0 total - Disposition from Tender
Common Stock
2016-08-08$4.60/sh−12,589,374$57,911,120→ 0 total(indirect: See footnote) - Disposition to Issuer
Stock Option (right to buy)
2016-08-09$4.60/sh−103,448$475,861→ 0 totalExercise: $2.82Exp: 2025-04-28→ Common Stock (103,448 underlying) - Disposition to Issuer
Stock Option (right to buy)
2016-08-09$4.60/sh−50,000$230,000→ 0 totalExercise: $1.65Exp: 2026-05-25→ Common Stock (50,000 underlying)
Footnotes (3)
- [F1]Includes 48,853 shares directly held by VantagePoint Management, Inc., 237,775 shares of common stock of the issuer directly held by VantagePoint Venture Partners III, L.P., 1,952,995 shares directly held by VantagePoint Venture Partners III (Q), L.P., 846,099 shares directly held by VantagePoint Venture Partners IV, L.P., 8,451,641 shares directly held by VantagePoint Venture Partners IV (Q), L.P., 30,789 shares directly held by VantagePoint Venture Partners IV Principals Fund, L.P., and 1,021,222 shares directly held by VantagePoint Venture Partners 2006 (Q), L.P. Mr. Salzman disclaims beneficial ownership of such securities and this report shall not be deemed an admission that he is the beneficial owner of such securities, except to the extent of his pecuniary interest therein.
- [F2]Pursuant to the agreement and plan of merger dated June 27, 2016, by and among ReachLocal, Inc., Gannett Co., Inc., and Raptor Merger Sub, Inc., at the closing of the merger each outstanding and unexercised stock option became fully vested and was cancelled in exchange for the right to receive in cash an amount equal to the product of (i) the total number of shares of ReachLocal common stock subject to the stock option, multiplied by (ii) the excess, if any, of $4.60 over the exercise price of the option.
- [F3]Pursuant to arrangements between Mr. Salzman and VantagePoint Venture Associates III, L.L.C., VantagePoint Venture Associates IV, L.L.C., VantagePoint Venture Associates 2006, L.L.C., and VantagePoint Management, Inc., each such entity has beneficial ownership of the stock option issued to Mr. Salzman. As a managing member or officer of these entities, Mr. Salzman has the power to exercise the option and voting and investment power with respect to the underlying shares. Each entity, and Mr. Salzman, disclaims beneficial ownership of such securities except to the extent of it or his pecuniary interest therein.