4//SEC Filing
ELECTRO RENT CORP 4
Accession 0001526205-16-000002
CIK 0000032166operating
Filed
Aug 9, 8:00 PM ET
Accepted
Aug 10, 5:46 PM ET
Size
7.7 KB
Accession
0001526205-16-000002
Insider Transaction Report
Form 4
Ostenberg Herb F.
Sr. Vice President
Transactions
- Disposition to Issuer
Common Stock
2016-08-10$15.50/sh−29,231$453,081→ 0 total - Disposition to Issuer
Restricted Stock Units
2016-08-10−6,352→ 0 total→ Common Stock (6,352 underlying)
Footnotes (4)
- [F1]Disposed of pursuant to and upon the effectiveness of the merger of Elecor Merger Corporation ("Merger Sub"), a wholly owned subsidiary of Elecor Intermediate Holding II Corporation ("Parent"), with and into the Issuer on August 10, 2016 (the "Merger"), pursuant to the Amended and Restated Agreement and Plan of Merger, dated as of June 23, 2016, by and among Issuer, Merger Sub and Parent (the "Merger Agreement").
- [F2]Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.
- [F3]The restricted stock units vest in three equal annual installments beginning July 16, 2017. Vested shares will be delivered to the reporting person on the earliest of: a) the first January 1 after the fifth anniversay of the grant, b) a Change of Control, or c) the grantee ceasing to be an employee for any reason.
- [F4]Upon the effectiveness of the Merger and pursuant to the Merger Agreement, each restricted stock unit (vested and unvested) was canceled in exchange for a right to receive an amount of cash equal to the per share merger consideration of $15.50 per share.
Documents
Issuer
ELECTRO RENT CORP
CIK 0000032166
Entity typeoperating
IncorporatedCA
Related Parties
1- filerCIK 0000032166
Filing Metadata
- Form type
- 4
- Filed
- Aug 9, 8:00 PM ET
- Accepted
- Aug 10, 5:46 PM ET
- Size
- 7.7 KB