4//SEC Filing
McDowell Patience Peirce 4
Accession 0001567619-18-003607
CIK 0001511198other
Filed
Oct 2, 8:00 PM ET
Accepted
Oct 3, 11:28 AM ET
Size
8.3 KB
Accession
0001567619-18-003607
Insider Transaction Report
Form 4
McDowell Patience Peirce
Director
Transactions
- Disposition to Issuer
Common Stock
2018-10-01−4,592→ 0 total - Disposition to Issuer
Stock Options
2018-10-01+10,000→ 0 totalExercise: $14.86From: 2014-09-22Exp: 2024-09-22→ Common Stock (10,000 underlying)
Footnotes (2)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger, dated as of June 18, 2018 (the "Merger Agreement"), by and between First Connecticut Bancorp, Inc. ("FCB") and People's United Financial, Inc. ("People's United"), in exchange for 1.725 shares of common stock of People's United ("People's United Common Stock") per share of common stock of FCB ("FCB Common Stock"), having a market value per share of FCB of $29.0835 (based on the value of 1.725 shares of People's United Common Stock at the close of trading on October 1, 2018, the closing date of the merger), with cash payable in lieu of any fractional shares.
- [F2]Per the Merger Agreement, each option to purchase shares of FCB Common Stock that was outstanding, unexercised, and vested immediately prior to the merger was cancelled and converted automatically into the right to receive a number of shares of People's United Common Stock equal to the quotient of (i) the product of (A) the number of shares of FCB Common Stock subject to such option multiplied by (B) the excess, if any, of the Per Share Stock Consideration over the exercise price per share of FCB Common Stock of such option, divided by (ii) $17.296, which is the average closing-sale price of People's United Common Stock for the five full trading days ending on the trading day immediately preceding October 1, 2018 (merger closing), with cash payable in lieu of any fractional shares. "Per Share Stock Consideration" is $29.8356, which is equal to the product of (A) the Exchange Ratio (1.725) multiplied by (B) the Purchaser Share Closing Price ($17.296).
Documents
Issuer
First Connecticut Bancorp, Inc.
CIK 0001511198
Entity typeother
Related Parties
1- filerCIK 0001614982
Filing Metadata
- Form type
- 4
- Filed
- Oct 2, 8:00 PM ET
- Accepted
- Oct 3, 11:28 AM ET
- Size
- 8.3 KB