Dennis Suskind - Jul 1, 2021 Form 4 Insider Report for NAVISTAR INTERNATIONAL CORP (NAV)

Role: Director
Signature: Curt. A. Kramer, Attorney in fact
Stock symbol: NAV
Transactions as of: Jul 1, 2021
Transactions value $: -$502,518
Form type: 4
Date filed: 7/6/2021, 08:53 PM
Previous filing: Jun 29, 2021
Next filing: Jan 26, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NAV	Common Stock	Disposed to Issuer	-$334K	-7.52K	-100%	$44.50	0	Jul 1, 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	NAV	Stock Options (Right to buy)	Disposed to Issuer	-$86K	-5K	-100%	$17.19	Jul 1, 2021	Common Stock	5K	$27.31	Direct	F2
transaction	NAV	Stock Options (Right to buy)	Disposed to Issuer	-$14.4K	-5K	-100%	$2.87^*	Jul 1, 2021	Common Stock	5K	$41.63	Direct	F2
transaction	NAV	Stock Options (Right to buy)	Disposed to Issuer	-$67.8K	-5K	-100%	$13.56	Jul 1, 2021	Common Stock	5K	$30.94	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Dennis Suskind is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Pursuant to that certain Agreement and Plan of Merger, dated as of November 7, 2020 (the "Merger Agreement"), by and among Navistar International Corporation, a Delaware Corporation (the "Issuer"), TRATON SE, a Societas Europaea ("TRATON") and Dusk Inc., a Delaware Corporation and a wholly owned indirect subsidiary of TRATON ("Merger Sub"), Merger Sub was merged with and into the Issuer (the "Merger") with the Issuer continuing as the surviving corporation and an indirect subsidiary of TRATON (the "Surviving Corporation"). As a result of the Merger, each share of Issuer Common Stock was automatically converted into the right to receive an amount in cash equal to $44.50 (the "Merger Consideration").
F2	Pursuant to the Merger Agreement, each option to purchase shares of common stock of the Issuer, whether vested or unvested, was cancelled and converted into the right to receive an amount in cash equal to the product obtained by multiplying (a) the amount by which $44.50 exceeds the per-share exercise price of such option, by (b) the total number of shares of Issuer Common Stock underlying such option. The original terms of the option provided for vesting in three annual installments with one-third of the option vesting on each anniversary date of the grant, so that in three years the option was fully vested.

Content

Pursuant to that certain Agreement and Plan of Merger, dated as of November 7, 2020 (the "Merger Agreement"), by and among Navistar International Corporation, a Delaware Corporation (the "Issuer"), TRATON SE, a Societas Europaea ("TRATON") and Dusk Inc., a Delaware Corporation and a wholly owned indirect subsidiary of TRATON ("Merger Sub"), Merger Sub was merged with and into the Issuer (the "Merger") with the Issuer continuing as the surviving corporation and an indirect subsidiary of TRATON (the "Surviving Corporation"). As a result of the Merger, each share of Issuer Common Stock was automatically converted into the right to receive an amount in cash equal to $44.50 (the "Merger Consideration").

Pursuant to the Merger Agreement, each option to purchase shares of common stock of the Issuer, whether vested or unvested, was cancelled and converted into the right to receive an amount in cash equal to the product obtained by multiplying (a) the amount by which $44.50 exceeds the per-share exercise price of such option, by (b) the total number of shares of Issuer Common Stock underlying such option. The original terms of the option provided for vesting in three annual installments with one-third of the option vesting on each anniversary date of the grant, so that in three years the option was fully vested.