Kinsell S. Kirk 4
4 · SONIC CORP · Filed Dec 10, 2018
Insider Transaction Report
Form 4
SONIC CORPSONC
Kinsell S. Kirk
Director
Transactions
- Disposition to Issuer
Restricted Stock Units
2018-12-07$43.50/sh−2,032$88,392→ 0 totalExercise: $0.00→ Common Stock (2,032 underlying) - Disposition to Issuer
Nonqualified Stock Options (right to buy)
2018-12-07$43.50/sh−8,237$358,310→ 0 totalExercise: $25.84Exp: 2025-01-31→ Common Stock (8,237 underlying)
Footnotes (1)
- [F1]Disposed of as a result of the merger pursuant to the previously announced Agreement and Plan of Merger, dated September 24, 2018, by and among the issuer, Inspire Brands, Inc. and SSK Merger Sub, Inc. (the "Merger Agreement"). At the effective time of the merger as contemplated in the merger agreement, (i) each outstanding share of Company Common Stock, was cancelled and automatically converted into the right to receive $43.50 in cash and (ii) each Company Restricted Stock Unit and each Company Stock Option Award, vested and accelerated in full and was converted into the right to receive $43.50 in cash (or in the case of Company Stock Option Awards, the difference between the exercise price and $43.50).