SEC Form 4: Sooy Thomas C. returned 45,456 shares to the company, closing all direct ownership in the company
$STXB
Commercial Banks
Finance
| 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 |
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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)
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2. Issuer Name and Ticker or Trading Symbol
Spirit of Texas Bancshares, Inc. [ STXB ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 04/08/2022 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 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 | 04/08/2022 | D | 45,456 | D | (1) | 0 | D | |||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 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 Options (right to buy) | $16 | 04/08/2022 | D | 5,000 | 08/15/2020 | 08/15/2025 | Common Stock | 5,000 | (2) | 0 | D | ||||
| Stock Options (right to buy) | $21 | 04/08/2022 | D | 3,000 | 05/03/2023 | 05/03/2028 | Common Stock | 3,000 | (3) | 0 | D | ||||
| Explanation of Responses: |
| 1. 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. |
| 2. This option, which provided for vesting in five equal annual installments beginning 08/15/2020 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. |
| 3. This option, which provided for vesting in five equal annual installments beginning 05/03/2023 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. |
| /s/ By Michael L. Durham as Attorney-in-Fact for Thomas C. Sooy | 04/11/2022 | |
| ** 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. | ||