SEC Form 4 · accession 0001204348-18-000001

TRANS WORLD CORP · TWOC

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Director

Period of report

Apr 30, 2018

Accepted (ET)

Apr 30, 2018 · 4:09 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000914577

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1	Apr 30, 2018	D	5,000	$4.1886	D	0	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Options^F3,F2	$2.9744	Apr 30, 2018	D	10,000	D	Apr 15, 2015	Apr 15, 2020	Common Stock	10,000	0	D

F1Disposed of pursuant to the Agreement and Plan of Merger (the "Merger Agreement") dated as of March 2, 2018 by and among FEC Overseas Investment (UK) Limited, FEC Investment (US) Limited, Trans World Corporation and, solely for limited purposes therein, Far East Consortium International Limited in exchange for $4.1886 for each share of common stock of the issuer held by the reporting person.
F2On April 15, 2015,, the Reporting Person was granted five-year non-qualified stock options ("NQSQs") to purchase 10,000 shares of the Issuer's common stock, $.001 per share ("Common Stock"). These NQSQs provided for vesting in four equal parts, with the first part vested immediately, and another part to vest upon the anniversary of the grant date, and so on. On each anniversary of the grant date, the exercise price increased by four percent (4%).
F3Cancelled pursuant to the Merger Agreement in exchange for a lump sum cash payment (less any applicable withholding) equal to the product of the number of shares of common stock subject to the option multiplied by the excess, if any, of $4.1886 over the exercise price per share of common stock under such option.