Corning Natural Gas Holding Corp 4
4 · Corning Natural Gas Holding Corp · Filed Jun 27, 2016
Insider Transaction Report
Form 4
SLEVE STANLEY G
Vice President Administration
Transactions
- Conversion
Series B Convertible Preferred Stock
2016-06-23+1,464→ 1,464 totalExercise: $20.75From: 2016-06-23Exp: 2026-09-30→ Common Stock (1,464 underlying)
Footnotes (4)
- [F1]Reporting Person received 8,784 shareholder subscription rights as a pro rata dividend to shareholders of record of the Issuer, Corning Natural Gas Holding Corporation ("Issuer" or "Holding Company") on April 14, 2016 ("Record Date"), with respect to the shares of common stock owned directly by Reporting Person on the record date. Each basic subscription right permitted the shareholder to purchase 1/8th share of Issuer's 6% Series A Cumulative Preferred Stock, par value $0.01 per share, for $25.00 for each full share or 1/6th share of Issuer's 4.8% Series B Convertible Preferred Stock, par value $0.01 per share for $20.75 for each full share.
- [F2]In connection with the transactions described in Note (1), Reporting Person 8,784 basic subscription rights issued with respect to shares of common stock directly owned by Reporting Person to purchase 1,464 shares of Series B Convertible Preferred Stock.
- [F3]Each share of Series B Convertible Preferred Stock is convertible at any time after issuance into one share of common stock, subject to adjustment under certain circumstances.
- [F4]Oversubscription rights were provided. The subscription rights expired on June 20, 2016 and shares of Series A Cumulative Preferred Stock and Series B Convertible Preferred Stock issued as of the close of business on June 23, 2016.