FREELAND JAY 4
4 · PERCEPTRON INC/MI · Filed Dec 21, 2020
Insider Transaction Report
Form 4
FREELAND JAY
Director
Transactions
- Disposition to Issuer
Common Stock
2020-12-21$7.00/sh−51,293$359,051→ 0 total - Disposition to Issuer
Director Stock Option (Right to Buy)
2020-12-21−8,000→ 0 totalExercise: $8.28Exp: 2029-01-02→ Common Stock (8,000 underlying) - Disposition to Issuer
Employee Stock Option (Right to Buy)
2020-12-21−25,000→ 0 totalExercise: $4.50Exp: 2029-12-02→ Common Stock (25,000 underlying)
Footnotes (3)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger (the "Merger Agreement") between the Issuer, Atlas Copco North America LLC and Odyssey Acquisition Corp. for $7.00 per share in cash on the effective date of the merger.
- [F2]This option, which provided for vesting in three equal annual installments beginning January 2, 2020, was cancelled pursuant to the Merger Agreement without payment of any consideration because the exercise price was greater than the $7.00 per share merger consideration.
- [F3]This option, which provided for vesting (i) 50% on December 2, 2020, (ii) 25% on December 2, 2021 and (iii) 25% on December 2, 2022, was cancelled pursuant to the Merger Agreement and converted into the right to receive an amount in cash equal to (i) the difference between the $7.00 per share merger consideration and the exercise price of such stock option multiplied by (ii) the number of shares subject to such stock option.