Steven L. Brake - Mar 8, 2022 Form 4 Insider Report for Del Taco Restaurants, Inc. (TACO)

Signature
Rebecca H. Yang, Attorney-in-Fact
Stock symbol
TACO
Transactions as of
Mar 8, 2022
Transactions value $
-$5,013,858
Form type
4
Date filed
3/10/2022, 08:46 PM
Previous filing
Jul 2, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TACO COMMON STOCK Disposed to Issuer -$3.82M -306K -100% $12.51 0 Mar 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 TACO Stock Option (right to buy) Disposed to Issuer -$232K -18.6K -100% $12.51 0 Mar 8, 2022 COMMON STOCK 18.6K $5.93 Direct F1
transaction TACO Stock Option (right to buy) Disposed to Issuer -$813K -65K -100% $12.51 0 Mar 8, 2022 COMMON STOCK 65K $9.89 Direct F1
transaction TACO Performance-Based Restricted Stock Units Disposed to Issuer -$144K -11.5K -100% $12.51 0 Mar 8, 2022 COMMON STOCK 11.5K $0.00 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Steven L. Brake 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 as a result of the merger pursuant to the previously announced Agreement and Plan of Merger, dated December 5, 2021, between the issuer and Jack in the Box Inc. (the "Merger Agreement"). Pursuant to the Merger Agreement, each restricted stock award (other than certain non-accelerating restricted stock awards granted to the issuer's executive officers) will vest and be converted into the right to receive cash of $12.51 per share, each unexercised option will vest and be converted into the right to receive cash in an amount equal to the excess of $12.51 over the exercise price of such option, and each performance-based restricted stock unit will vest and be converted into the right to receive cash of $12.51 per share.