Teresa A. Herbert - Feb 15, 2022 Form 4 Insider Report for INDEPENDENCE HOLDING CO (IHC)

Role
President, Director
Signature
/s/Teresa A. Herbert
Stock symbol
IHC
Transactions as of
Feb 15, 2022
Transactions value $
-$5,878,638
Form type
4
Date filed
2/16/2022, 09:14 AM
Previous filing
Feb 9, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IHC Common Stock, $1.00 par value per share Disposed to Issuer -$5.88M -103K -100% $57.00 0 Feb 15, 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 IHC Employee Stock Option (Right to Buy) Disposed to Issuer -15.8K -100% 0 Feb 15, 2022 Common Stock 15.8K $37.38 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Teresa A. Herbert 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 pursuant to the Agreement and Plan of Merger, by and among Independence Holding Company, Geneve Holdings, Inc. and Geneve Acquisition Corp. dated November 9, 2021 (the "Merger Agreement"), on the effective date of the merger.
F2 The option provides for vesting in equal 1/3 installements on each of the first three annual anniversaries of the grant/transaction date.
F3 On the effective date of the merger, all outstanding stock options, whether vested or not then vested, were cancelled, extinguished and converted into the right to receive the excess of (x) the $57.00 merger consideration over (y) the exercise price of such stock option pursuant to the Merger Agreement.