SEC Form 4 · accession 0000923284-16-000105
INLAND REAL ESTATE CORP · IRC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Arcy Thomas P D
Director
Period of report
Mar 30, 2016
Accepted (ET)
Mar 30, 2016 · 5:59 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000923284
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Mar 30, 2016 | D | 33,995 | $10.60 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option to BuyF3 | $6.85 | Mar 30, 2016 | D | 1,000 | D | Jun 17, 2011 | Jun 17, 2019 | Common Stock | 1,000 | 0 | D |
| Option to BuyF3 | $8.36 | Mar 30, 2016 | D | 1,000 | D | Jun 17, 2012 | Jun 17, 2020 | Common Stock | 1,000 | 0 | D |
| Option to BuyF3 | $8.76 | Mar 30, 2016 | D | 1,000 | D | Jun 15, 2013 | Jun 15, 2021 | Common Stock | 1,000 | 0 | D |
| Option to BuyF3 | $8.28 | Mar 30, 2016 | D | 1,000 | D | Jun 27, 2014 | Jun 27, 2022 | Common Stock | 1,000 | 0 | D |
Explanation of responses
- F1Includes (i) 7,344 shares of restricted common stock, all of which have vested; (ii) 6,117 shares of restricted common stock, 33% of which vested on each of July 1, 2014 and July 1, 2015 and 33% of which was set to vest on July 1, 2016; (iii) 5,760 shares of restricted common stock, 33% of which vested on July 1, 2015 and 33% of which was set to vest on each of July 1, 2016 and July 1, 2017; and (iv) 6,349 shares of restricted common stock, of which 33% was set to vest on each of July 1, 2016, July 1, 2017 and July 1, 2018.
- F2Pursuant to the terms of the Agreement and Plan of Merger by and among Inland Real Estate Corporation (the "Company"), DRA Growth and Income Fund VIII, LLC, a Delaware limited liability company, DRA Growth and Income Fund VIII (A), LLC, a Delaware limited liability company and Midwest Retail Acquisition Corp., a Maryland corporation ("Merger Agreement"), each share of Inland Real Estate Corporation common stock owned by the reporting person immediately prior to the Merger converted at the effective time into the right to receive $10.60 per share, in cash.
- F3Pursuant to the terms of the Merger Agreement, each stock option of the Company, whether or not exercisable, was fully vested at the effective time of the merger, cancelled and converted into the right to receive the excess, if any, of (i) the number of shares of Company common stock underlying the options times (ii) (x) $10.60 less (y) the per share exercise price of the option.