NORTEK INC 4
4 · NORTEK INC · Filed Aug 31, 2016
Insider Transaction Report
Form 4
NORTEK INCNTK
Bloomberg Jeffrey
Director
Transactions
- Disposition to Issuer
Stock Option (Right to Buy)
2016-08-31$68.50/sh−10,000$685,000→ 0 totalExercise: $17.50Exp: 2020-04-08→ Common (10,000 underlying) - Disposition from Tender
Common
2016-08-31$86.00/sh−6,133$527,438→ 0 total
Footnotes (2)
- [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]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.