4//SEC Filing
NORTEK INC 4
Accession 0001638599-16-001334
CIK 0001216596operating
Filed
Aug 30, 8:00 PM ET
Accepted
Aug 31, 2:50 PM ET
Size
17.8 KB
Accession
0001638599-16-001334
Insider Transaction Report
Form 4
NORTEK INCNTK
CLARKE MICHAEL JOSEPH
DirectorPresident and CEO
Transactions
- Disposition to Issuer
Common
2016-08-31−16,898→ 0 total - Disposition to Issuer
Stock Option (Right to Buy)
2016-08-31$13.52/sh−17,900$242,008→ 0 totalExercise: $72.48Exp: 2024-03-05→ Common (17,900 underlying) - Disposition from Tender
Common
2016-08-31$86.00/sh−115,322$9,917,692→ 16,898 total - Disposition to Issuer
Stock Option (Right to Buy)
2016-08-31$47.01/sh−73,723$3,465,718→ 0 totalExercise: $38.99Exp: 2026-01-29→ Common (73,723 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2016-08-31$59.84/sh−200,000$11,968,000→ 0 totalExercise: $26.16Exp: 2021-12-30→ Common (200,000 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2016-08-31$13.35/sh−21,352$285,049→ 0 totalExercise: $72.65Exp: 2023-03-05→ Common (21,352 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2016-08-31$5.16/sh−22,713$117,199→ 0 totalExercise: $80.84Exp: 2025-02-24→ Common (22,713 underlying)
Footnotes (4)
- [F1]Disposed of in a tender offer by Nevada Corp., a Delaware corporation ("Acquisition Sub") to acquire all of the outstanding shares of common stock of Nortek, Inc., a Delaware corporation ("Nortek") for $86.00 per share pursuant to the terms of an Agreement and Plan of Merger (the "Merger Agreement"), dated as of July 6, 2016, by and among Melrose Industries plc, Acquisition Sub and Nortek.
- [F2]Corrects a miscalculation in the total number of shares from a prior Form 4 in the amount of 10,772 shares.
- [F3]Pursuant to the terms of the Merger Agreement, 50% of Performance-Based Restricted Stock was cancelled.
- [F4]Pursuant to the terms of the Merger Agreement, each option that was outstanding and unexercised on the date of the Merger was automatically cancelled and converted into the right to receive a cash payment of $86.00 less the exercise price.
Documents
Issuer
NORTEK INC
CIK 0001216596
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001216596
Filing Metadata
- Form type
- 4
- Filed
- Aug 30, 8:00 PM ET
- Accepted
- Aug 31, 2:50 PM ET
- Size
- 17.8 KB