SEC Form 4: Barbato Thomas L closing all direct ownership in the company to cover withholding tax
$IEC
Electrical Products
Technology
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
|
|||||||||||||||
|
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | ||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
|
2. Issuer Name and Ticker or Trading Symbol
IEC ELECTRONICS CORP [ IEC ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
|
||||||||||||||||||||||||
|
3. Date of Earliest Transaction
(Month/Day/Year) 10/05/2021 | ||||||||||||||||||||||||||
|
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
|
|||||||||||||||||||||||||
| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 10/05/2021 | U | 7,500 | D | (1) | 0 | D | |||
|
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Stock Option (Right to Buy) | $5.43(2) | 10/05/2021 | D | 100,000 | (2) | (2) | Common Stock | 100,000 | $9.92(2) | 0 | D | ||||
| Restricted Stock Unit | $0(3) | 10/05/2021 | D | 3,637 | (3) | (3) | Common Stock | 3,637 | (3) | 0 | D | ||||
| Restricted Stock Unit | $0(3) | 10/05/2021 | D | 2,921 | (3) | (3) | Common Stock | 2,921 | (3) | 0 | D | ||||
| Restricted Stock Unit | $0(3) | 10/05/2021 | D | 2,203 | (3) | (3) | Common Stock | 2,203 | (3) | 0 | D | ||||
| Peformance Restricted Stock Unit | $0(4) | 10/05/2021 | D | 21,819 | (4) | (4) | Common Stock | 21,819 | (4) | 0 | D | ||||
| Peformance Restricted Stock Unit | $0(4) | 10/05/2021 | D | 14,603 | (4) | (4) | Common Stock | 14,603 | (4) | 0 | D | ||||
| Peformance Restricted Stock Unit | $0(4) | 10/05/2021 | D | 8,812 | (4) | (4) | Common Stock | 8,812 | (4) | 0 | D | ||||
| Explanation of Responses: |
| 1. Disposed of pursuant to the closing, on October 5, 2021, of a cash tender offer by Creation Technologies International Inc. ("Parent"), and its wholly-owned subsidiary, CTI Acquisition Corp. ("Merger Sub"), pursuant to which each outstanding share of the common stock of the Issuer was converted into the right to receive $15.35 per share, less any required withholding taxes. |
| 2. Upon consummation of the tender offer, each option was cancelled and converted into the right to receive the difference between $15.35 and the exercise price per share of the option, less any required withholding taxes. |
| 3. Upon consummation of the tender offer, each restricted stock unit fully vested and was cancelled and converted automatically into the right to receive $15.35 per share underlying the restricted stock unit, less any required withholding taxes. |
| 4. Performance Restricted Stock Units ("PSUs") that vested in connection with the tender offer were cancelled and converted into the right to receive $15.35 per share underlying the PSU, less any required withholding taxes. |
| Thomas Barbato | 10/05/2021 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||