SEC Form 4 · accession 0001242609-15-000020
INTERNATIONAL RECTIFIER CORP /DE/ · IRF
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Didier Hirsch
Director
Period of report
Jan 13, 2015
Accepted (ET)
Jan 13, 2015 · 6:24 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000316793
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 13, 2015 | D | 21,103 | $40.00 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (Right to Buy)F2 | $22.72 | Jan 13, 2015 | D | 20,000 | D | — | Mar 25, 2014 | Common Stock | 20,000 | 0 | D |
| Restricted Stock UnitF3 | $0.00 | Jan 13, 2015 | D | 3,060 | D | Aug 25, 2015 | Aug 25, 2015 | Common Stock | 3,060 | 0 | D |
Explanation of responses
- F1On January 13, 2015, Infineon Technologies AG., a stock corporation (Aktiengesellschaft) organized under the laws of the Federal Republic of Germany ("Infineon"), acquired the issuer pursuant to that certain agreement and plan of merger among issuer, Infineon and Surf Merger Sub, Inc., a Delaware corporation and wholly owned subsidiay of Infineon ("Merger Sub"), dated as of August 20, 2014 (the "Merger Agreement"). In accordance with the Merger Agreement, Merger Sub merged with and into the issuer (the "Merger"), with the issuer surviving the Merger as a wholly owned subsidiary of Infineon. At the effective time of the Merger, each outstanding share of the issuer's common stock was converted into the right to receive $40.00 in cash (the "per-share merger consideration"). The Merger is more fully described in the issuer's Proxy Statement filed with the SEC on October 7, 2014.
- F2The stock options provided for vesting in three equal annual installments, with one-third of the stock options vesting on each of March 26, 2013, March 26, 2014 and March 26, 2015. The Merger Agreement provided that each outstanding stock option, whether vested or unvested, be cancelled at the effective time of the Merger in exchange for a cash payment equal to the per-share merger consideration less the exercise price of the stock option to be paid out as soon as administratively practicable following the effective time of the Merger.
- F3These service-based Restricted Stock Units, which provide for vesting on the first anniversary of the date of grant were cancelled at the effective time of the Merger, in exchange for a cash amount equal to the per-share merger consideration multiplied by the number of Restricted Stock Units to be paid out as soon as administratively practicable following the effective time of the Merger.