Christine Beseda Kornegay - Mar 1, 2022 Form 4 Insider Report for McAfee Corp. (MCFE)

Role
Chief Accounting Officer
Signature
/s/ Jared Ross, as Attorney-in-Fact
Stock symbol
MCFE
Transactions as of
Mar 1, 2022
Transactions value $
$0
Form type
4
Date filed
3/3/2022, 04:30 PM
Previous filing
Feb 17, 2022
Next filing
Jan 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % Price $ Shares After Date Ownership Footnotes
transaction MCFE Class A Common Stock +Grant/Award $0 +8,800 +6.39% $0.00 146,610 Mar 1, 2022 Direct F1
transaction MCFE Class A Common Stock -Disposed to Issuer -137,810 -62.63% 82,211 Mar 1, 2022 Direct F2
transaction MCFE Class A Common Stock -Disposed to Issuer -82,211 -100% 0 Mar 1, 2022 Direct F3

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 MCFE Class A Stock Options -Disposed to Issuer -22,004 -100% 0 Mar 1, 2022 Class A Common Stock 22,004 $15.50 Direct F4
transaction MCFE Class A Stock Options -Disposed to Issuer -22,014 -100% 0 Mar 1, 2022 Class A Common Stock 22,014 $15.50 Direct F5

Christine Beseda Kornegay is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Reflects Restricted Stock Units ("RSUs") underlying existing performance-based RSUs that were granted upon satisfaction of certain performance criteria. Each RSU represents a contingent right to receive one share of the Issuer's Class A Shares upon settlement.
F2 Certain of these securities are RSUs that represented the Reporting Person's right to receive shares of Class A common stock of the Issuer. The RSUs and shares of Class A common stock were cancelled pursuant to that certain Merger Agreement, dated November 5, 2021, between the Issuer, Condor BidCo, Inc. and Condor Merger Sub, Inc. (the "Merger Agreement"), in exchange for a cash payment of $26.00 per share (the "Merger Consideration").
F3 Includes RSUs that represent the Reporting Person's right to receive shares of Class A common stock of the Issuer. The RSUs were cancelled pursuant to the Merger Agreement in exchange for a cash award, which will remain subject to the same time-vesting terms and conditions that apply immediately prior to closing.
F4 This option, of which options to purchase 17,878 shares of Class A common stock of the Issuer were vested as of the date hereof and the remaining options vested in three quarterly installments beginning on March 31, 2022, was cancelled pursuant to the Merger Agreement in exchange for a cash award representing the difference between the exercise price of the option and the Merger Consideration, which will remain subject to the same time-vesting terms and conditions that apply immediately prior to the closing.
F5 This performance-based option, of which options to purchase 7,338 shares of Class A common stock of the Issuer were vested as of the date hereof and the remaining options vested (i) in full upon the satisfaction of certain performance criteria related returns achieved by certain of the Issuer's stockholders (inclusive of dividends) or (ii) in two equal annual installments beginning on October 31, 2022, was cancelled pursuant to the Merger Agreement in exchange for a cash award representing the difference between the exercise price of the option and the Merger Consideration.

Remarks:

Mr. Ross is signing on behalf of the Reporting Person pursuant to a Limited Power of Attorney dated October 21, 2020, which was previously filed with the Securities and Exchange Commission.