4//SEC Filing
Naughton Michael Damien 4
Accession 0001415889-22-007817
CIK 0001310114other
Filed
Jul 19, 8:00 PM ET
Accepted
Jul 20, 4:20 PM ET
Size
9.5 KB
Accession
0001415889-22-007817
Insider Transaction Report
Form 4
Transactions
- Disposition to Issuer
Common Stock
2022-07-20$1.50/sh−635,873$953,810→ 0 total - Disposition to Issuer
Option
2022-07-20$0.58/sh−50,000$29,000→ 0 totalExercise: $0.92Exp: 2029-09-01→ Common Stock (50,000 underlying)
Footnotes (5)
- [F1]This amount includes 429,166 restricted stock units of ServiceSource subject to time-based vesting (each an "RSU").
- [F2]On July 20, 2022, pursuant to that certain Agreement and Plan of Merger (the "Merger Agreement"), dated May 6, 2022, by and among ServiceSource International, Inc. ("ServiceSource"), Concentrix Corporation ("Parent"), and Concentrix Merger Sub Inc., a direct, wholly-owned subsidiary of Parent ("Acquisition Sub"), Acquisition Sub merged with and into ServiceSource, with ServiceSource surviving as a wholly-owned subsidiary of Parent (the "Merger"). Pursuant to the Merger Agreement, and by virtue of the Merger, each issued and outstanding share of ServiceSource common stock, par value $0.0001 per share, was converted into the right to receive $1.50 in cash, without interest (the "Merger Consideration").
- [F3](Continued from Footnote 2) Pursuant to the Merger Agreement each RSU that was outstanding immediately prior to the effective time of the Merger was automatically assumed by Parent and converted into the right to receive an amount in cash, without interest, equal to the product of (i) the total number of shares of ServiceSource common stock underlying such RSU multiplied by (ii) the Merger Consideration, plus any dividend equivalent amounts accrued with respect to such RSU which amount shall be payable at the same time as under the terms and conditions of the RSUs.
- [F4]The shares subject to the option were scheduled to vest in three equal annual installments beginning on September 1, 2020.
- [F5]Pursuant to the Merger Agreement each outstanding option to purchase ServiceSource common stock (each a "Company Option") that was outstanding immediately prior to the effective time of the Merger automatically vested (if unvested) and was cancelled and, if the exercise price per share of the ServiceSource common stock was less than the Merger Consideration, was converted into the right to receive an amount in cash, without interest, equal to the product of (i) the excess, if any, of (A) the Merger Consideration over (B) the per-share exercise price for such Company Option multiplied by (ii) the total number of shares of ServiceSource common stock underlying such Company Option.
Documents
Issuer
CONCENTRIX SERVICESOURCE INC.
CIK 0001310114
Entity typeother
Related Parties
1- filerCIK 0001820960
Filing Metadata
- Form type
- 4
- Filed
- Jul 19, 8:00 PM ET
- Accepted
- Jul 20, 4:20 PM ET
- Size
- 9.5 KB