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SYPRIS SOLUTIONS INC — Director's Dealing 2007
Jun 14, 2007
34630_dirs_2007-06-14_73be6004-376c-4508-aa3e-89813488a0f5.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: SYPRIS SOLUTIONS INC (SYPR)
CIK: 0000864240
Period of Report: 2007-06-12
Reporting Person: BOYD KATHY SMITH (VP and Pres of subsidiary)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2007-06-12 | Option (Right to Buy) | $11.92 | D | 12500 | Disposed | 2011-06-30 | Common Stock (12500) | Direct |
| 2007-06-12 | Option (Right to Buy) | $17.25 | D | 5000 | Disposed | 2012-03-31 | Common Stock (5000) | Direct |
| 2007-06-12 | Option (Right to Buy) | $7.90 | A | 9648 | Acquired | 2011-05-13 | Common Stock (9648) | Direct |
| 2007-06-12 | Option (Right to Buy) | $7.90 | A | 2931 | Acquired | 2011-05-13 | Common Stock (2931) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 33938 | Direct |
| Common Stock | 1000 | Indirect |
Footnotes
F1: On June 12, 2007, the issuer accepted for exchange, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on July 1, 2005 to the reporting person. In exchange for this option grant the reporting person received a replacement option (reported herein), on June 12, 2007 for 9,648 having an exercise price equal to $7.90.
F2: On June 12, 2007, the issuer accepted for exchange, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on April 1, 2004 to the reporting person. In exchange for this option grant the reporting person received a replacement option (reported herein), on June 12, 2007 for 2,931 having an exercise price equal to $7.90.
F3: Canceled option provided for vesting in increments of 30%, 30%, and 40% on the third, fourth and fifth anniversary date, respectively beginning on July 1, 2008. On December 31, 2005, by action of the Board of Directors, option was accelerated to immediately vest.
F4: Canceled option provided for vesting in five equal installments beginning on April 1, 2006. On March 11, 2005, by action of the Board of Directors, option was accelerated to immediately vest.
F5: The total number of shares held directly was previously reported to included 1,000 shares held by spouse.