SEC Form 4 · accession 0001404409-16-000113
TECO ENERGY INC · TE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sherrill W Hudson
Director
Period of report
Jul 1, 2016
Accepted (ET)
Jul 5, 2016 · 4:10 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000350563
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | May 13, 2016 | G | 5,000 | $0.00 | D | 271,907 | D | |
| Common Stock | May 19, 2016 | G | 4,000 | $0.00 | D | 267,907 | D | |
| Common StockF1 | Jul 1, 2016 | D | 267,907 | $27.55 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom Stock UnitsF2 | — | Jul 1, 2016 | D | 13,951 | D | — | — | Common Stock | 13,951 | 0 | D |
| Restricted Stock UnitsF3 | — | Jul 1, 2016 | D | 2,885 | D | — | — | Common Stock | 2,885 | 0 | D |
Explanation of responses
- F1Reflects the disposition of shares and restricted shares pursuant to the Agreement and Plan of Merger by and among TECO Energy, Inc., Emera Inc. and Emera US Inc. (the "Merger Agreement"). Pursuant to the Merger Agreement, as of the effective date of the merger (July 1, 2016), the outstanding shares of TECO common stock were cancelled and converted automatically into the right to receive (without interest, and less any applicable holdings) $27.55 in cash per share (the "Per-Share Merger Consideration".)
- F2Reflects the disposition of Phantom Stock Units under the Directors' Deferred Compensation Plan. Pursuant to the Merger Agreement, as of the effective date of the merger, the Phantom Stock Units were converted into an amount of cash equal to the Per-Share Merger Consideration.
- F3Reflects the disposition of Restricted Stock Units pursuant to the Merger Agreement. Pursuant to the Merger Agreement, as of the effective date of the merger, the Restricted Stock Units vested and were cancelled and converted into the right to receive a lump-sum cash payment (paid as promptly as practicable following the effective date of the merger) equal to the Per-Share Merger Consideration (plus any accrued dividends).