ReachLocal Inc 4
4 · ReachLocal Inc · Filed Aug 10, 2016
Insider Transaction Report
Form 4
ReachLocal IncRLOC
Landsbaum Ross
Chief Financial Officer
Transactions
- Disposition from Tender
Common Stock
2016-08-08$4.60/sh−70,961$326,421→ 0 total - Disposition to Issuer
Stock Option (right to buy)
2016-08-09$4.60/sh−90,000$414,000→ 0 totalExercise: $1.95Exp: 2023-02-28→ Common Stock (90,000 underlying) - Disposition to Issuer
Restricted Stock Units
2016-08-09$4.60/sh−40,000$184,000→ 0 total→ Common Stock (40,000 underlying) - Disposition to Issuer
Stock Option (right to buy)
2016-08-09$4.60/sh−125,000$575,000→ 0 totalExercise: $2.70Exp: 2022-05-06→ Common Stock (125,000 underlying)
Footnotes (4)
- [F1]Each restricted stock unit represents a contingent right to receive one share of ReachLocal, Inc. common stock.
- [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 restricted stock unit became fully vested and was cancelled in exchange for the right to receive in cash an amount equal to $4.60.
- [F3]The restricted stock units were to vest according to the following schedule: 25% on the first anniversary of the March 28, 2016 vesting start date and quarterly over the subsequent 12 quarters. The restricted stock units were to be completely vested on the fourth anniversary of the vesting start date.
- [F4]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.