4//SEC Filing
PERNEAU LINDA 4
Accession 0001628280-22-010448
CIK 0000103872other
Filed
Apr 25, 8:00 PM ET
Accepted
Apr 26, 2:43 PM ET
Size
19.1 KB
Accession
0001628280-22-010448
Insider Transaction Report
Form 4
PERNEAU LINDA
President - VWS
Transactions
- Award
Performance Unit
2022-04-25+250,597→ 0 totalExercise: $0.00→ Common Stock (250,597 underlying) - Disposition to Issuer
Performance Unit
2022-04-25−250,597→ 0 totalExercise: $0.00→ Common Stock (250,597 underlying) - Disposition to Issuer
Stock Option (right to buy)
2022-04-25$1.90/sh−133,181$253,044→ 0 totalExercise: $4.10Exp: 2028-03-01→ Common Stock (133,181 underlying) - Disposition to Issuer
Restricted Stock Unit
2022-04-25−501,085→ 0 totalExercise: $0.00→ Common Stock (501,085 underlying) - Disposition from Tender
Common Stock
2022-04-22−402,365→ 0 total - Award
Performance Unit
2022-04-25+29,055→ 0 totalExercise: $0.00→ Common Stock (29,055 underlying) - Disposition to Issuer
Performance Unit
2022-04-25−29,055→ 0 totalExercise: $0.00→ Common Stock (29,055 underlying)
Footnotes (7)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger, dated as of March 12, 2022 (the "Merger Agreement"), by and among Vega Consulting, Inc., a Delaware corporation ("Parent"), Vega MergerCo, Inc., a New York corporation and wholly owned subsidiary of Parent, and Volt Information Sciences, Inc., a New York corporation (the "Company"), in exchange for $6.00 per share upon the consummation of the transactions contemplated by the Merger Agreement (the "Merger") or in the related preceding tender offer (the "Tender Offer") at the same price. The Tender Offer expired on April 22, 2022, and the Merger closed on April 25, 2022.
- [F2]Performance units convert into common stock on a one-for-one basis.
- [F3]On June 14, 2019, the reporting person was granted 149,769 performance stock units. The performance units were eligible to vest 1/3 in each of the three years following the grant date based on the Company's achievement of certain financial performance goals measured over the applicable fiscal year performance period. At the maximum level of achievement, up to 150% of the units granted were eligible to vest.
- [F4]Upon consummation of the Merger, these performance units were deemed to be earned and each was cancelled in exchange for a cash payment equal to $6.00.
- [F5]On June 15, 2021, the reporting person was granted 214,797 performance stock units. The performance units were eligible to vest 1/3 in each of the three years following the grant date based on the Company's achievement of certain financial performance goals measured over the applicable fiscal year performance period. At the maximum level of achievement, up to 150% of the units granted were eligible to vest.
- [F6]Upon consummation of the Merger, each time-based restricted stock unit was cancelled in exchange for a cash payment equal to $6.00.
- [F7]Upon consummation of the Merger, each such option was cancelled in exchange for a cash payment equal to the difference between $6.00 and the exercise price of the option.
Documents
Issuer
VOLT INFORMATION SCIENCES, INC.
CIK 0000103872
Entity typeother
Related Parties
1- filerCIK 0001734786
Filing Metadata
- Form type
- 4
- Filed
- Apr 25, 8:00 PM ET
- Accepted
- Apr 26, 2:43 PM ET
- Size
- 19.1 KB