Weaver Michael Dan 4
4 · OTELCO INC. · Filed Jun 8, 2010
Insider Transaction Report
Form 4
OTELCO INC.OTT
Weaver Michael Dan
DirectorPresident & CEO
Transactions
- Disposition to Issuer
Class B common stock
2010-06-08−891→ 0 total→ Income Deposit Securities (891 underlying) - Award
Class A common stock
2010-06-08+891→ 49,578 total
Footnotes (4)
- [F1]The reported securities consist of Income Deposit Securities. Each Income Deposit Security consists of one share of Class A common stock and one 13% senior subordinated note due 2019 with a $7.50 principal amount.
- [F2]Class B common stock was exchangeable for Income Deposit Securities on a one-for-one basis. The reporting person disposed of 891 shares of Class B common stock in exchange for 891 Income Deposit Securities in an issuer exchange offer.
- [F3]Pursuant to an investor rights agreement, the Class B common stock became exchangeable for Income Deposit Securities beginning on December 21, 2006, subject to the satisfaction of certain conditions, including, through December 21, 2009, a financial test.
- [F4]None.