SPAN AMERICA MEDICAL SYSTEMS INC 4
4 · SPAN AMERICA MEDICAL SYSTEMS INC · Filed Jun 21, 2017
Insider Transaction Report
Form 4
O REAGAN JAMES R
VP - RandD and Engineering
Transactions
- 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
2017-06-16−2,000→ 0 totalExercise: $9.34From: 2009-07-01Exp: 2019-02-11→ Common stock (2,000 underlying) - Disposition from Tender
Common Stock
2017-06-15$29.00/sh−20,641$598,589→ 0 total
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.