Lang Mark C. 4
4 · TOLLGRADE COMMUNICATIONS INC \PA\ · Filed May 12, 2011
Insider Transaction Report
Form 4
Lang Mark C.
Corporate Controller
Transactions
- Disposition to Issuer
Nonstatutory stock option
2011-05-10$4.07/sh−25,000$101,750→ 0 totalExercise: $6.03From: 2010-12-10Exp: 2019-12-10→ Common stock (25,000 underlying) - Disposition to Issuer
Nonstatutory stock option
2011-05-10$3.62/sh−15,000$54,300→ 0 totalExercise: $6.48From: 2011-06-17Exp: 2020-06-17→ Common stock (15,000 underlying)
Footnotes (3)
- [F1]Options were exercisable in three equal installments on 12/10/10, 12/10/11 and 12/10/12.
- [F2]Pursuant to the Agreement and Plan of Merger, dated February 21, 2011, among Tollgrade Communications, Inc., Talon Holdings, Inc. and Talon Merger Sub, Inc., effective as of May 10, 2011, each stock option was canceled and converted into the right to receive an amount in cash equal to the product of (a) the excess, if any, of $10.10 over the exercise price of such stock option, multiplied by (b) the number of shares which otherwise could have been purchased upon the exercise of such stock option, without regard to whether such stock option was then vested.
- [F3]Options were scheduled to vest in three equal installments on 6/17/11, 6/17/12 and 6/17/13.