Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|
transaction | FCF | Common Stock | Award | +142K | 142K | Jan 31, 2023 | Direct | F1, F2 |
Id | Content |
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F1 | The transaction reflected herein is an acquisition in connection with the merger of Centric Financial Corporation ("Centric") and First Commonwealth Financial Corporation ("First Commonwealth"), with First Commonwealth as the surviving corporation, which merger was completed on January 31, 2023, pursuant to the Agreement and Plan of Merger, dated as of August 30, 2022, by and between such parties. In the merger, (1) each outstanding share of Centric common stock was converted into the right to receive 1.09 shares of First Commonwealth common stock (the "Exchange Ratio"), (footnote (1) continues below in footnote (2)) |
F2 | (2) each outstanding option and warrant to acquire shares of Centric common stock was cancelled in exchange for shares of First Commonwealth common stock equal to the value of the option or warrant, if any, based on the Exchange Ratio, and (3) unvested restricted stock of Centric vested in full upon the closing and was converted into the right to receive First Commonwealth common stock based on the Exchange Ratio. The closing market value of First Commonwealth common stock on the date of the merger was $14.71 per share. All transactions are exempt from Section 16(b) pursuant to Rule 16b-3(e). |