SEC Form 4 · accession 0000899243-15-000806
FAMILY DOLLAR STORES INC · FDO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Howard R Levine
Officer — Chief Executive Officer · Director
Period of report
Jul 6, 2015
Accepted (ET)
Jul 7, 2015 · 4:50 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000034408
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3,F4 | Jul 6, 2015 | D | 5,229,943 | — | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (Right to Buy)F6,F5 | $51.49 | Jul 6, 2015 | D | 113,040 | D | — | Oct 4, 2016 | Common Stock | 113,040 | 0 | D |
| Employee Stock Option (Right to Buy)F6,F5 | $67.95 | Jul 6, 2015 | D | 99,435 | D | — | Oct 9, 2017 | Common Stock | 99,435 | 0 | D |
| Employee Stock Option (Right to Buy)F6,F5 | $68.92 | Jul 6, 2015 | D | 115,015 | D | — | Oct 15, 2018 | Common Stock | 115,015 | 0 | D |
| Employee Stock Option (Right to BuyF6,F5 | $76.97 | Jul 6, 2015 | D | 78,095 | D | — | Oct 14, 2024 | Common Stock | 78,095 | 0 | D |
Explanation of responses
- F1On July 6, 2015, Dollar Tree, Inc. ("Dollar Tree") acquired the Issuer pursuant to the Agreement and Plan of Merger between the Issuer, Dollar Tree and Dime Merger Sub, Inc. ("Merger Sub"), dated as of July 27, 2014, as amended from time to time (the "Merger Agreement"). In accordance with the Merger Agreement, Merger Sub merged with and into the Issuer, with the Issuer continuing as the surviving corporation and a wholly-owned subsidiary of Dollar Tree (the "Merger"). The number reported consists of (i) 5,156,942 shares held directly by the reporting person, (ii) 46,353 shares underlying outstanding performance share rights awards granted under the Issuer's 2006 Incentive Plan (the "Plan") and (iii) 26,648 shares underlying an outstanding restricted stock unit award granted under Plan.
- F2(Continued from Footnote 1) The number reported does not include 1,025 shares owned by Mr. Levine's wife. Mr. Levine disclaims beneficial ownership of such shares.
- F3Pursuant to the Merger Agreement, on July 6, 2015, (i) each share held directly by the reporting person was exchanged for $59.60 in cash, without interest (the "Cash Consideration"), and 0.2484 shares of Dollar Tree common stock (the "Stock Consideration" and together with the Cash Consideration, the "Merger Consideration"), (ii) each share underlying outstanding performance share rights awards (after net share settlement for tax withholding purposes) converted into a right to receive the Merger Consideration and
- F4(Continued from Footnote 3) (iii) the outstanding restricted stock units award was converted into a restricted stock unit award in respect of a number of shares of Dollar Tree common stock determined by multiplying the number of Issuer shares subject to the award by the sum of (A) 0.2484 and (B) the quotient of the Cash Consideration divided by the volume weighted average price per share of Dollar Tree common stock on the Nasdaq Stock Exchange for the consecutive period of twenty trading days beginning on the twenty-third trading day immediately preceding the closing date of the Merger and concluding at the close of trading on the third trading day immediately preceding the closing date of the Merger (calculated in accordance with the Merger Agreement, the "Award Exchange Ratio").
- F5Each option becomes exercisable with respect to 40% of the underlying shares on the second anniversary of grant and with respect to an additional 30% on each of the third and fourth anniversaries of grant. The options set forth above were granted on October 4, 2011, October 9, 2012, October 15, 2013 and October 14, 2014, respectively.
- F6Pursuant to the Merger Agreement, on July 6, 2015, each Issuer option that was outstanding immediately prior to the effective time was converted into an option to purchase a number of shares of Dollar Tree common stock determined by multiplying the number of shares of Issuer common stock subject to such option by the Award Exchange Ratio for a per share exercise price determined by dividing the original per share exercise price of the option by the Award Exchange Ratio.