MACKINAC FINANCIAL CORP /MI/ 4
4 · MACKINAC FINANCIAL CORP /MI/ · Filed Dec 17, 2014
Insider Transaction Report
Form 4
Tobias Paul Davison
DirectorChief Executive Officer
Transactions
- Exercise/Conversion
Stock Option (right to buy)
2014-12-15−70,502→ 0 totalExercise: $9.75Exp: 2014-12-16→ Common Stock (70,502 underlying) - Tax Payment
Common Stock
2014-12-15$11.25/sh−63,922$719,123→ 49,509 total - Exercise/Conversion
Common Stock
2014-12-15$9.75/sh+70,502$687,395→ 113,431 total
Holdings
- 3,469(indirect: By 401(k))
Common Stock
- 54,194(indirect: By LLC)
Common Stock
- 72,970(indirect: By IRA)
Common Stock
Footnotes (1)
- [F1]20% of the option became exercisable on 12/16/2004. Of the remaining option, 27% of the original became exercisable when the closing price of the Common Stock equaled 1.15 times the initial exercise price for a period of 10 consecutive trading days. Another 27% of the original option became exercisable when the closing price of the Common Stock equaled 1.30 times the initial exercise price for a period of 10 consecutive trading days after 12/16/2004. The remaining 26% of the original option expired prior to satisfaction of the vesting condition.