CRESCENT OPERATING INC 4

4 · CRESCENT OPERATING INC · Filed Mar 29, 2005

Form 4

Period: 2005-01-18

DirectorCEO

Transactions

Other
Stock Option (Right to Buy)
2005-01-18−1,400→ 0 total
Exercise: $0.99Exp: 2007-06-11→ Common Stock (1,400 underlying)
Other
Stock Option (Right to Buy)
2005-01-18−100,000→ 0 total
Exercise: $2.50Exp: 2009-12-15→ Common Stock (100,000 underlying)
Other
Common Stock
2005-01-18−5,000→ 0 total
Other
Stock Option (Right to Buy)
2005-01-18−50,000→ 0 total
Exercise: $20.50Exp: 2008-02-15→ Common Stock (50,000 underlying)

Footnotes (3)

[F1]Pursuant to Plan of Reorganization of Crescent Operating, Inc. confirmed by US Bankruptcy Court, Issuer on January 18, 2005, filed in Delaware an amendment to its Certificate of Incorporation automatically cancelling each outstanding share of Common Stock and converting the same into a "right to receive that number of common shares of beneficial interest [of Crescent Real Estate Equities Company (CEI) as provided] in the manner and upon the terms set forth in the Plan of Reorganization," pursuant to which Reporting Person thereafter received 85 common shares of CEI, valued at $17.39 per share, or $1478.15 in total, as of the Transaction Date.
[F2]Pursuant to Plan of Reorganization of Crescent Operating, Inc. confirmed by US Bankruptcy Court, all stock options of Issuer were cancelled effective January 18, 2005.
[F3]Vested and became exercisable incrementally at various dates; fully vested and exercisable prior to Transaction Date.

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