SEC Form 4 · accession 0001571049-16-012516
SIRONA DENTAL SYSTEMS, INC. · SIRO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Rainer Berthan
Officer — Executive VP
Period of report
Feb 29, 2016
Accepted (ET)
Mar 1, 2016 · 6:50 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001014507
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3 | Feb 29, 2016 | D | 27,966 | — | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option (right to buy)F5,F4,F6 | $44.77 | Feb 29, 2016 | D | 16,000 | D | — | Jul 2, 2022 | Common Stock | 16,000 | 0 | D |
| Option (right to buy)F5,F4,F7 | $67.59 | Feb 29, 2016 | D | 7,844 | D | — | Nov 26, 2023 | Common Stock | 7,844 | 0 | D |
| Option (right to buy)F5,F4,F8 | $86.00 | Feb 29, 2016 | D | 9,783 | D | — | Nov 25, 2024 | Common Stock | 9,783 | 0 | D |
Explanation of responses
- F1Includes 6,329 performance stock units ("PSU") and 18,150 restricted stock units ("RSU").
- F2On February 29, 2016, pursuant to an Agreement and Plan of Merger, dated as of September 15, 2015 (the "Merger Agreement"), by and among Sirona Dental Systems, Inc. ("Sirona"), DENTSPLY International Inc. ("DENTSPLY") and Dawkins Merger Sub Inc., a wholly owned subsidiary of DENTSPLY ("Merger Sub"), Merger Sub merged with and into Sirona, with Sirona continuing as the surviving entity and a wholly owned subsidiary of DENTSPLY (the "Merger"). Upon completion of the Merger, DENTSPLY changed its corporate name to "DENTSPLY SIRONA Inc."
- F3Disposed of pursuant to the Merger Agreement in which (x) each share of Sirona common stock issued and outstanding immediately prior to the consummation of the Merger was converted into 1.8142 shares of DENTSPLY common stock, (y) each unvested RSU outstanding immediately prior to the consummation of the Merger was assumed by DENTSPLY and was converted into 1.8142 RSUs of DENTSPLY on the same terms and conditions as were in effect immediately prior to the completion of the Merger, and (z) each PSU outstanding immediately prior to the consummation of the Merger was deemed to be earned at the maximum level of 200% and was converted into DENTSPLY common stock based on the 1.8142 exchange ratio; in each case rounded down to the nearest whole share or RSU, as applicable.
- F4The exercise price per share of each converted Sirona stock option will be determined by dividing the per share exercise price of such stock option by the 1.8142 exchange ratio, and rounding up to the nearest whole cent.
- F5Disposed of pursuant to the Merger Agreement in which each outstanding and unexercised option to acquire shares of Sirona common stock, whether or not vested or exercisable, was assumed by DENTSPLY and was converted into an option to acquire shares of DENTSPLY common stock on the same terms and conditions as were in effect immediately prior to the completion of the Merger based on the 1.8142 exchange ratio, rounded down to the nearest whole share.
- F625% vested on 1/1/2014, 25% vested on 7/2/2014, 25% vested on 7/2/2015, and the final 25% shall vest on 7/2/2016.
- F725% vested on 11/26/2014, 25% vested on 11/26/2015, 25% shall vest on 11/26/2016, and the final 25% shall vest on 11/26/2017.
- F825% vested on 11/25/2015, 25% shall vest on 11/25/2016, 20% shall vest on 11/25/2017, 20% shall vest on 11/25/2018 and the final 10% shall vest on 11/25/2019.