4//SEC Filing
SPAN AMERICA MEDICAL SYSTEMS INC 4
Accession 0001437749-17-011612
CIK 0000718924operating
Filed
Jun 20, 8:00 PM ET
Accepted
Jun 21, 12:02 PM ET
Size
9.8 KB
Accession
0001437749-17-011612
Insider Transaction Report
Form 4
Herlong Fredrick C
VP - Operations
Transactions
- Disposition from Tender
Common Stock
2017-06-15$29.00/sh−5,811$168,519→ 0 total - Disposition to Issuer
Stock option
2017-06-16−4,000→ 0 totalExercise: $14.90From: 2011-07-01Exp: 2020-11-09→ Common stock (4,000 underlying) - Disposition to Issuer
Stock option
2017-06-16−2,500→ 0 totalExercise: $9.34From: 2009-07-01Exp: 2019-02-11→ Common stock (2,500 underlying)
Footnotes (3)
- [F1]Disposed of in a tender offer by Savaria Corporation, an Alberta Corporation ("Savaria"), and Savaria (SC) Inc. ("Purchaser"), a South Carolina corporation and wholly-owned indirect subsidiary of Savaria, to acquire all of the outstanding shares of common stock of Span-America Medical Systems, Inc., a South Carolina corporation ("Span-America"), for $29.00 per share pursuant to the terms of that certain Agreement and Plan of Merger, dated as of May 1, 2017, by and among Savaria, Purchaser, and Span-America (the "Merger Agreement"). All terms capitalized but not defined shall have the meaning given to them in the Merger Agreement.
- [F2]Pursuant to a Stock Option Cancellation Agreement dated May 1, 2017 by and between Span-America and the Reporting Person, the stock option was cancelled as of the Effective Date of the Merger contemplated in the Merger Agreement, and the Reporting Person received a lump sum cash payment from Span-America in an amount equal to the number of shares subject to that stock option multiplied by an amount equal to $29.00 minus the exercise price of that stock option.
- [F3]Exercisable at the rate of 1,000 shares on noted date and an additional 1,000 shares on each anniversary of noted date.
Documents
Issuer
SPAN AMERICA MEDICAL SYSTEMS INC
CIK 0000718924
Entity typeoperating
IncorporatedSC
Related Parties
1- filerCIK 0000718924
Filing Metadata
- Form type
- 4
- Filed
- Jun 20, 8:00 PM ET
- Accepted
- Jun 21, 12:02 PM ET
- Size
- 9.8 KB