NAL FINANCIAL GROUP INC 4
4 · NAL FINANCIAL GROUP INC · Filed Nov 10, 1997
Insider Transaction Report
Form 4
Fresne, Donald C.
10% Owner
Transactions
- Conversion
Common Stock
1999-10-01$0.32/sh+35,304,688$11,297,500(indirect: By wholly-owned subsidiary) - Conversion
Common Stock
1999-10-01$0.30/sh+1,509,617$452,885→ 36,814,305 total(indirect: By wholly-owned subsidiary)
Footnotes (9)
- [1]These instruments were transferred between two indirect wholly-owned subsidiaries to a direct wholly-owned subsidiary of the Registrant.
- [2]Represents principal plus accrued interest.
- [3]The convertible securities were originally reported as being convertible into 833,332 shares based upon the then conversion price. Such number of shares has been subject to change over time because the conversion price was equal to 80% of the market price.
- [4]These debentures were transferred from Conseco, Inc. to CIHC, Incorporated, a wholly-owned subsidiary.
- [5]The number of shares has been determined by reference to a $.625 per share conversion price. The instruments governing the preferred stock provide for a conversion price equal to 80% of the closing bid price per share on the NASDAQ/NMS on the date of conversion.
- [6]Conseco entered into an agreement with NAL Financial Group, Inc., which was transferred to CIHC, Incorporated, that CIHC will convert the debentures immediately upon NAL Financial Group, Inc. filing an amendment to its Certificate of Incorporation to increase its authorized shares of common stock.
- [7]Interest continues to accrue on these instruments and is convertible on the same terms as principal amounts.
- [8]The previously reported agreement to acquire these debentures was transferred from Conseco, Inc. to CIHC, Incorporated.
- [9]CIHC, Incorporated purchased the debentures pursuant to the purchase agreements referenced in footnotes numbered 6 and 8.