Ronald P. Vargo - 21 Apr 2022 Form 4 Insider Report for FERRO CORP

Role
Director
Signature
/s/ Richard Shuttie, Treasurer, by Power of Attorney
Issuer symbol
N/A
Transactions as of
21 Apr 2022
Net transactions value
-$2,337,988
Form type
4
Filing time
21 Apr 2022, 16:58:43 UTC
Previous filing
19 Apr 2022
Next filing
06 Jun 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FOE Common Stock Disposed to Issuer $801,900 -36,450 -100% $22.00 0 21 Apr 2022 Direct F1
transaction FOE Common Stock Disposed to Issuer $271,088 -12,322 -100% $22.00 0 21 Apr 2022 By Director Deferred Comp Plan 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 FOE Deferred Stock Units Disposed to Issuer $1,265,000 -57,500 -100% $22.00 0 21 Apr 2022 Common Stock 57,500 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Ronald P. Vargo is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On April 21, 2022, PMHC II Inc. ("Prince"), an affiliate of Prince International Corporation acquired Ferro Corporation (the "Issuer") pursuant to a certain Agreement and Plan of Merger, dated as of May 11, 2021 (the "Merger Agreement"), by and among the Issuer, Prince and PMHC Fortune Merger Sub, Inc., a wholly owned subsidiary of Prince ("Merger Sub"). In accordance with the Merger Agreement, Merger Sub merged with and into the Issuer (the "Merger") with the Issuer surviving the Merger as a direct or indirect, wholly owned subsidiary of Prince. At the effective time of the Merger, each issued and outstanding share of the Issuer's common stock, par value $1.00 per share, (the "Common Stock") (other than certain excluded shares) automatically converted into the right to receive $22.00 per share in cash (the "Merger Consideration"), without interest and less any applicable withholding tax.
F2 Each deferred stock unit ("DSU") represents a contingent right to receive one share of the Issuer's Common Stock. Pursuant to the Merger Agreement, each outstanding DSU was cancelled and entitled the holder to receive an amount of cash, without interest, equal to the number of shares of Common Stock subject to such DSU immediately prior to the effective time of the Merger, multiplied by the Merger Consideration.
F3 The DSUs vest immediately upon grant; however, the DSUs were originally scheduled to be converted into shares of Common Stock only upon the holder ceasing to serve as a director of the Issuer.