Thomas L. Barbato - 05 Oct 2021 Form 4 Insider Report for IEC ELECTRONICS CORP

Role
CFO
Signature
Thomas Barbato
Issuer symbol
N/A
Transactions as of
05 Oct 2021
Net transactions value
-$992,000
Form type
4
Filing time
05 Oct 2021, 16:47:00 UTC
Next filing
03 Aug 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IEC Common Stock Disposition pursuant to a tender of shares in a change of control transaction -7,500 -100% 0 05 Oct 2021 Direct F1

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

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction IEC Stock Option (Right to Buy) Disposed to Issuer $992,000 -100,000 -100% $9.92 0 05 Oct 2021 Common Stock 100,000 $5.43 Direct F2
transaction IEC Restricted Stock Unit Disposed to Issuer -3,637 -100% 0 05 Oct 2021 Common Stock 3,637 $0.000000 Direct F3
transaction IEC Restricted Stock Unit Disposed to Issuer -2,921 -100% 0 05 Oct 2021 Common Stock 2,921 $0.000000 Direct F3
transaction IEC Restricted Stock Unit Disposed to Issuer -2,203 -100% 0 05 Oct 2021 Common Stock 2,203 $0.000000 Direct F3
transaction IEC Peformance Restricted Stock Unit Disposed to Issuer -21,819 -100% 0 05 Oct 2021 Common Stock 21,819 $0.000000 Direct F4
transaction IEC Peformance Restricted Stock Unit Disposed to Issuer -14,603 -100% 0 05 Oct 2021 Common Stock 14,603 $0.000000 Direct F4
transaction IEC Peformance Restricted Stock Unit Disposed to Issuer -8,812 -100% 0 05 Oct 2021 Common Stock 8,812 $0.000000 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Thomas L. Barbato is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Disposed of pursuant to the closing, on October 5, 2021, of a cash tender offer by Creation Technologies International Inc. ("Parent"), and its wholly-owned subsidiary, CTI Acquisition Corp. ("Merger Sub"), pursuant to which each outstanding share of the common stock of the Issuer was converted into the right to receive $15.35 per share, less any required withholding taxes.
F2 Upon consummation of the tender offer, each option was cancelled and converted into the right to receive the difference between $15.35 and the exercise price per share of the option, less any required withholding taxes.
F3 Upon consummation of the tender offer, each restricted stock unit fully vested and was cancelled and converted automatically into the right to receive $15.35 per share underlying the restricted stock unit, less any required withholding taxes.
F4 Performance Restricted Stock Units ("PSUs") that vested in connection with the tender offer were cancelled and converted into the right to receive $15.35 per share underlying the PSU, less any required withholding taxes.