PROBUSINESS SERVICES INC 4
4 · PROBUSINESS SERVICES INC · Filed Jun 24, 2003
Insider Transaction Report
Form 4
No transactions or holdings reported in this filing.
Footnotes (2)
- [F1]Pursuant to the terms of the Agreement and Plan of Merger, dated as of January 5, 2003, among Automatic Data Processing, Inc., a Delaware corporation ("ADP"), ADP Merger Corp, a Delaware corporation and an indirect wholly owned subsidiary of ADP and ProBusiness Services, Inc., a Delaware corporation ("ProBusiness") (the "Merger Agreement"), at the effective time of the merger contemplated therein, each outstanding shares of ProBusiness common stock, except for certain limited exceptions, was converted into the right to receive $17.00 per share in cash, without interest.
- [F2]On June 20, 2003, the effective time of the merger, each outstanding option to purchase shares of common stock, whether or not then vested or exercisable, was accelerated and became fully vested and exercisable as of such date.