GULLARD JAMES MICHAEL 4
4 · DITECH NETWORKS INC · Filed Dec 6, 2012
Insider Transaction Report
Form 4
GULLARD JAMES MICHAEL
Director
Transactions
- Disposition to Issuer
Non-Qualified Stock Option
2012-12-04−35,000→ 0 totalExercise: $0.88Exp: 2017-01-16→ Common Stock (35,000 underlying) - Disposition to Issuer
Common Stock
2012-12-04$1.45/sh−10,000$14,500→ 0 total
Footnotes (3)
- [F1]Disposed of pursuant to the merger agreement between Nuance Communications, Inc. and Ditech Networks, Inc. in exchange for $1.45 per share.
- [F2]This option, which provided for vesting as result of, and pursuant to terms of, the merger agreement between Nuance Communications, Inc. and Ditech Networks, Inc, was canceled in the merger in exchange for a cash payment of $19,957, representing the difference between $1.45 (the consideration per share of common stock in the merger) and the exercise price of the option.
- [F3]This option is exercisable as it vests at a rate of 25% annually from the date of grant over a four year period.