SEC Form 4 · accession 0001209191-18-007326
Bazaarvoice Inc · BV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sara Ellen Spivey
Officer — Chief Marketing Officer
Period of report
Feb 1, 2018
Accepted (ET)
Feb 5, 2018 · 12:19 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001330421
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 1, 2018 | A | 57,002 | $0.00 | A | 224,268 | D | |
| Common StockF2 | Feb 1, 2018 | D | 39,432 | $5.50 | D | 184,836 | D | |
| Common StockF3 | Feb 1, 2018 | D | 184,836 | — | 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 Options (Right to Buy)F4 | $5.75 | Feb 1, 2018 | D | 150,000 | D | — | Apr 20, 2025 | Common Stock | 150,000 | 0 | D |
| Stock Options (Right to Buy)F5 | $3.94 | Feb 1, 2018 | D | 22,709 | D | — | Jun 7, 2023 | Common Stock | 22,709 | 31,793 | D |
| Stock Options (Right to Buy)F6 | $3.94 | Feb 1, 2018 | D | 31,793 | D | — | Jun 7, 2023 | Common Stock | 31,793 | 0 | D |
Explanation of responses
- F1The reporting person was previously granted restricted stock units that would vest upon the satisfaction of certain performance criteria, which criteria were deemed satisfied at 100% of target in accordance with the Merger Agreement (as defined below), resulting in the deemed vesting of the reported shares.
- F2Disposed of pursuant to the Agreement and Plan of Merger, by and among BV Parent, LLC, BV Merger Sub, Inc. and Bazaarvoice, Inc. (the "Issuer"), dated November 26, 2017 (as amended, the "Merger Agreement"), whereby each outstanding share of the Issuer's common stock was cancelled at the effective time (the "Effective Time") of the merger (the "Merger") and converted into the right to receive a cash payment of $5.50 per share.
- F3Disposed of pursuant to the Merger Agreement, whereby such unvested options were cancelled at the Effective Time and converted into the right to receive consideration equal to the value of the product of the (x) excess of $5.50 over the exercise price per share of each stock option and (y) the number of shares underlying such stock options (the "Option Consideration"), whereby (i) 20% of the Option Consideration was paid in cash, (ii) 40% of the Option Consideration was paid through the issuance of one Class A Preferred Unit of Topco and one Class B Common Unit of Topco for each whole dollar in value of such percentage, and (iii) 40% of the Option Consideration was paid through the issuance of one Class B Common Unit of Topco for each whole dollar in value of such percentage, where such Class B Common Unit of Topco shall be deemed profits interests and vest over a period of five (5) years from the Effective Time.
- F4Pursuant to the terms of the Merger Agreement, options with an exercise price greater than $5.50 per share were cancelled without consideration
- F5Disposed of pursuant to the Merger Agreement, whereby such vested options were cancelled at the Effective Time and converted into the right to receive a total amount in cash, equal to the product of (x) excess of $5.50 over the exercise price per share of each stock option and (y) the number of shares underlying such stock option.
- F6Disposed of pursuant to the Merger Agreement, whereby such unvested options were cancelled at the Effective Time and converted into the right to receive consideration equal to the value of the product of the (x) excess of $5.50 over the exercise price per share of each stock option and (y) the number of shares underlying such stock options (the "Option Consideration"), whereby (i) 20% of the Option Consideration was paid in cash, (ii) 40% of the Option Consideration was paid through the issuance of one Class A Preferred Unit of Topco and one Class B Common Unit of Topco for each whole dollar in value of such percentage, and (iii) 40% of the Option Consideration was paid through the issuance of one Class B Common Unit of Topco for each whole dollar in value of such percentage, where such Class B Common Unit of Topco shall be deemed profits interests and vest over a period of five (5) years from the Effective Time.