Jeffrey T. Schlarbaum - Oct 5, 2021 Form 4 Insider Report for IEC ELECTRONICS CORP (IEC)

Role
President and CEO, Director
Signature
Jeffrey T. Schlarbaum
Stock symbol
IEC
Transactions as of
Oct 5, 2021
Transactions value $
-$4,681,631
Form type
4
Date filed
10/5/2021, 04:47 PM
Previous filing
Jun 21, 2021
Next filing
Apr 25, 2022

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 -93K -100% 0 Oct 5, 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 -$4.68M -416K -100% $11.25 0 Oct 5, 2021 Common Stock 416K $4.10 Direct F2
transaction IEC Restricted Stock Unit Disposed to Issuer -8.97K -100% 0 Oct 5, 2021 Common Stock 8.97K $0.00 Direct F3
transaction IEC Restricted Stock Unit Disposed to Issuer -7.19K -100% 0 Oct 5, 2021 Common Stock 7.19K $0.00 Direct F3
transaction IEC Restricted Stock Unit Disposed to Issuer -5.42K -100% 0 Oct 5, 2021 Common Stock 5.42K $0.00 Direct F3
transaction IEC Performance Restricted Stock Unit Disposed to Issuer -53.8K -100% 0 Oct 5, 2021 Common Stock 53.8K $0.00 Direct F4
transaction IEC Performance Restricted Stock Unit Disposed to Issuer -36K -100% 0 Oct 5, 2021 Common Stock 36K $0.00 Direct F4
transaction IEC Performance Restricted Stock Unit Disposed to Issuer -21.7K -100% 0 Oct 5, 2021 Common Stock 21.7K $0.00 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Jeffrey T. Schlarbaum 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.