Joseph M. Redling - Nov 3, 2022 Form 4 Insider Report for Stonemor Inc. (STON)

Role
President and CEO, Director
Signature
/s/ Shirley Herman, Attorney-in-Fact
Stock symbol
STON
Transactions as of
Nov 3, 2022
Transactions value $
-$8,893,025
Form type
4
Date filed
11/4/2022, 12:57 PM
Previous filing
Jul 18, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction STON Common Stock Disposed to Issuer -$5.74M -1.64M -100% $3.50 0 Nov 3, 2022 Direct

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 STON Employee Stock Option (right to buy) Disposed to Issuer -$280K -156K -100% $1.79 0 Nov 3, 2022 Common Stock 156K $1.71 Direct F1
transaction STON Employee Stock Option (right to buy) Disposed to Issuer -156K -100% 0 Nov 3, 2022 Common Stock 156K $1.71 Direct F2
transaction STON Employee Stock Option (right to buy) Disposed to Issuer -$2.88M -1.25M -100% $2.30 0 Nov 3, 2022 Common Stock 1.25M $1.20 Direct F3
transaction STON Employee Stock Option (right to buy) Disposed to Issuer -1.25M -100% 0 Nov 3, 2022 Common Stock 1.25M $1.20 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This option, which provided for vesting in equal annual installments over a three-year period, commencing on the first anniversary following the date of grant which was December 3, 2020, was cancelled in the merger contemplated by an Agreement and Plan of Merger among Axar Cemetery Parent Corp. ("Axar"), StoneMor Inc. and Axar Cemetery Merger Corp. in exchange for a cash payment of $279,687.50, representing the difference between the exercise price of the option and the cash merger consideration per share.
F2 This option, which provided for vesting in equal annual installments over a three-year period, commencing on the first anniversary following the date of grant which was December 3, 2020, was assumed by Axar in the merger and replaced with a fully vested option to purchase 156,250 shares of Axar common stock for $1.71 per share.
F3 This option, which provided for vesting in equal annual installments over a three-year period, commencing on the first anniversary following the date of grant which was December 18, 2019, was cancelled in the merger in exchange for a cash payment of $2,875,000, representing the difference between the exercise price of the option and the cash merger consideration per share.
F4 This option, which provided for vesting in equal annual installments over a three-year period, commencing on the first anniversary following the date of grant which was December 18, 2019, was assumed by Axar in the merger and replaced with a fully vested option to purchase 1,250,000 shares of Axar common stock for $1.20 per share.

Remarks:

The filing of this statement shall not be construed as an admission (a) that the person filing this statement is, for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the beneficial owners of any equity securities covered by this statement, or (b) that this statement is legally required to be filed by such person.