SEC Form 4 · accession 0001209191-17-014639
COMMERCIAL BANCSHARES INC \OH\ · CMOH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stanley K Kinnett
Officer — Chairman of Board · Director
Period of report
Feb 24, 2017
Accepted (ET)
Feb 27, 2017 · 2:07 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 | 8,180 | — | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares held under deferred compensation planF5,F3,F4 | — | Feb 24, 2017 | D | 5,107 | D | — | — | Common Stock | 5,107 | 0 | I |
Explanation of responses
- F1Includes 34.0011 shares acquired under the Issuer's dividend reinvestment program covering dividends paid in 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.
- F3Each unit credited to participant under this plan is the economic equivalent of one of issuer's common shares.
- F4These shares are vested immediately and participant account balances are payable upon termination of service on the Company's Board of Directors.
- F5Under 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 2,107.0364 of these shares in exchange for cash and 3,000 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.