BUTHER LOUIS 4
4 · EMERGENT GROUP INC/NY · Filed Oct 29, 2003
Insider Transaction Report
Form 4
BUTHER LOUIS
President10% Owner
Transactions
- Conversion
Common Stock
2003-10-27$0.20/sh+229,546$45,909→ 530,435 total - Conversion
Rights
2003-10-27−229,546→ 0 totalExercise: $0.20From: 2003-08-04Exp: 2003-01-31→ Common Stock (229,546 underlying)
Footnotes (2)
- [F1]The $.20 per share was not paid in cash. It represents the exercise price of certain rights described in Table II and the value of certain contractual rights that were waived by BJH Management LLC in consideration of the payment of the option price. BJH then assigned these rights to Mr. Buther.
- [F2]These rights were granted to Mr. Buther upon receipt of stockholder approval of the reverse stock split effective August 29, 2003 and were exercisable through January 31 2004.