Eric K. Mann - Feb 10, 2023 Form 4 Insider Report for PATRIOT TRANSPORTATION HOLDING, INC. (PATI)

Role
Director
Signature
/s/Eric K. Mann
Stock symbol
PATI
Transactions as of
Feb 10, 2023
Transactions value $
-$37,808
Form type
4
Date filed
12/21/2023, 02:53 PM
Previous filing
Feb 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PATI Common Stock Sale -$29.7K -3.8K -88.37% $7.81 500 Feb 10, 2023 Direct
transaction PATI Common Stock Disposed to Issuer -$8.13K -500 -100% $16.26 0 Dec 21, 2023 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Eric K. Mann 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 an Agreement and Plan of Merger, each share of common stock was converted into the right to receive $16.26 per share in cash (the "Merger Consideration"). Each outstanding stock option was cancelled in exchange for the right to receive a cash payment of an amount equal to the product of (i) the total number of shares of common stock underlying such stock option and (ii) the excess of the (x) Merger Consideration over the (y) per-share exercise price of the stock option. Each outstanding SAR was cancelled in exchange for the right to receive a cash payment of an amount equal to the product of (i) the total number of shares of common stock underlying each such SAR and (ii) the excess, if any, of (x) the Merger Consideration over (y) the per-share SAR Price.