SEC Form 4 · accession 0001209191-17-014212
COMMERCIAL BANCSHARES INC \OH\ · CMOH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Scott A Oboy
Officer — Chief Financial Officer
Period of report
Feb 24, 2017
Accepted (ET)
Feb 24, 2017 · 1:49 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001009976
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Feb 24, 2017 | D | 19,541 | — | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to buy)F3 | $24.47 | Feb 24, 2017 | D | 667 | D | — | Aug 14, 2024 | Common Stock | 667 | 0 | D |
| Stock Option (Right to buy)F4 | $27.40 | Feb 24, 2017 | D | 1,334 | D | — | Aug 13, 2025 | Common Stock | 1,334 | 0 | D |
Explanation of responses
- F1Includes 91.6899 shares acquired under the Issuer's dividend reinvestment plan covering dividends paid in the third and fourth quarters, 2016.
- F2Under the terms of the merger agreement with First Defiance Financial Corp., each shareholder of the Issuer has the right to elect to receive either $51.00 in cash or 1.1808 shares of First Defiance common stock (or a combination thereof) in exchange for each share of Issuer common owned. All elections are subject to certain adjustments under the merger agreement necessary to cause 80% of the total consideration to be paid in First Defiance Shares and the remaining 20% of the total consideration to be paid in cash. The insider has made an election to dispose of these shares in exchange for First Defiance Shares, but the adjustments required under the terms of the merger agreement have yet to be finalized.
- F3This option, which provided for vesting in three equal annual installments beginning August 14, 2015, was disposed of in the merger in exchange for a cash payment of $17,695.51, representing the difference between the exercise price of the option and the cash consideration as provided for under the merger agreement between issuer and First Defiance Financial Corp. ($51.00).
- F4This option, which provided for vesting in three equal annual installments beginning August 13, 2016, was disposed of in the merger in exchange for a cash payment of $31,482.40, representing the difference between the exercise price of the option and the cash consideration as provided for under the merger agreement between issuer and First Defiance Financial Corp. ($51.00).