MILLER JEROME DR 4
4 · AMERICAN BUSINESS FINANCIAL SERVICES INC /DE/ · Filed Jan 5, 2004
Insider Transaction Report
Form 4
MILLER JEROME DR
Director
Transactions
- Other
Series A Preferred Stock
2003-12-31+10,000→ 10,000 total→ Common Stock
Footnotes (4)
- [F1]Each share of Series A Convertible Preferred Stock is convertible into the number of shares of Common Stock determined by dividing (A) by (B), where (A) is $1.00 plus any accrued but unpaid dividends (if the conversion date is prior to December 31, 2005 because the Series A Convertible Preferred Stock has become convertible due to a failure to pay any dividend), $1.20 plus any accrued but unpaid dividends (if the conversion date is prior to December 31, 2006 but on or after December 31, 2005) or $1.30 plus any accrued but unpaid dividends (if the conversion date is on or after December 31, 2006), and (B) is the market value of a share of Common Stock on the conversion date (but not less than $5.00, subject to adjustment for stock splits).
- [F2]December 31, 2005 (or on or after December 31, 2004 if dividends are not paid at any time on the Series A Convertible Preferred Stock).
- [F3]None - perpetual existence.
- [F4]Pursuant to exchange option #2 provided for in an Offer to Exchange of the Issuer dated December 1, 2003, Subordinated Investment Notes of the Issuer were exchangable for the number of shares of Series A Convertible Preferred Stock determined by dividing the principal outstanding amount of Subordinated Investment Note tendered in the exchange by the $1.00 liquidation value of a share of Series A Convertible Preferred Stock.