Steven M. Morris - Apr 8, 2022 Form 4 Insider Report for Spirit of Texas Bancshares, Inc. (STXB)

Role
Director
Signature
/s/ By Michael L. Durham as Attorney-in-Fact for Steven M Morris
Stock symbol
STXB
Transactions as of
Apr 8, 2022
Transactions value $
$0
Form type
4
Date filed
4/11/2022, 06:38 PM
Previous filing
Feb 28, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction STXB Common Stock Disposed to Issuer -145K -100% 0 Apr 8, 2022 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 STXB Stock Options (right to buy) Disposed to Issuer -2.5K -100% 0 Apr 8, 2022 Common Stock 2.5K $13.00 Direct F2
transaction STXB Stock Options (right to buy) Disposed to Issuer -3.75K -100% 0 Apr 8, 2022 Common Stock 3.75K $13.00 Direct F3
transaction STXB Stock Options (right to buy) Disposed to Issuer -5K -100% 0 Apr 8, 2022 Common Stock 5K $16.00 Direct F4
transaction STXB Stock Options (right to buy) Disposed to Issuer -5K -100% 0 Apr 8, 2022 Common Stock 5K $15.00 Direct F5
transaction STXB Stock Options (right to buy) Disposed to Issuer -3K -100% 0 Apr 8, 2022 Common Stock 3K $21.00 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Steven M. Morris 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 in connection the Agreement and Plan of Merger, dated November 18, 2021 (the "Merger Agreement"), by and between Simmons First National Corporation ("Simmons") and Spirit of Texas Bancshares, Inc. ("Issuer"), pursuant to which the Issuer was merged with and into Simmons, with Simmons surviving (the "Merger"). Pursuant to the Merger, each issued and outstanding shares of Issuer common stock and restricted stock units were converted into the right to receive 1.0016722 shares of Simmons common stock. The closing price of Simmons common stock on April 8, 2022, the effective date of the Merger, was $25.44. As a result of the Merger, the reporting person no longer beneficially owns, directly or indirectly, any shares of Issuer common stock.
F2 This option, which provided for vesting in five equal annual installments beginning 03/21/2018 was canceled in the Merger in exchange for a cash payment of $37,396.69, representing the difference between the exercise price of the option and the fully diluted per share value of the underlying STXB common stock on the effective date of the merger.
F3 This option, which provided for vesting in five equal annual installments beginning 02/20/2019 was canceled in the Merger in exchange for a cash payment of $56,095.03, representing the difference between the exercise price of the option and the fully diluted per share value of the underlying STXB common stock on the effective date of the merger.
F4 This option, which provided for vesting in five equal annual installments beginning 02/19/2020 was canceled in the Merger in exchange for a cash payment of $59,793.38, representing the difference between the exercise price of the option and the fully diluted per share value of the underlying STXB common stock on the effective date of the merger.
F5 This option, which provided for vesting in five equal annual installments beginning 02/23/2022 was canceled in the Merger in exchange for a cash payment of $64,793.38,, representing the difference between the exercise price of the option and the fully diluted per share value of the underlying STXB common stock on the effective date of the merger.
F6 This option, which provided for vesting in five equal annual installments beginning 05/23/2023 was canceled in the Merger in exchange for a cash payment of $20,876.03, representing the difference between the exercise price of the option and the fully diluted per share value of the underlying STXB common stock on the effective date of the merger.