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SYPRIS SOLUTIONS INC — Director's Dealing 2007
Jun 13, 2007
34630_dirs_2007-06-13_b576d639-bc7a-45dd-b636-7298aa485a71.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: Hatton T Scott (VP & CFO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2007-06-12 | Common Stock | A | 2364 | — | Acquired | 100350 | Direct |
| 2007-06-12 | Common Stock | F | 783 | $8.27 | Disposed | 99567 | Direct |
| 2007-06-12 | Common Stock | A | 2585 | — | Acquired | 102152 | Direct |
| 2007-06-12 | Common Stock | F | 856 | $8.27 | Disposed | 101296 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2007-06-12 | Option (Right to Buy) | $9.98 | D | 7500 | Disposed | 2011-12-30 | Common Stock (7500) | Direct |
| 2007-06-12 | Option (Right to Buy) | $13.94 | D | 12500 | Disposed | 2011-07-18 | Common Stock (12500) | Direct |
Footnotes
F1: On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on December 31, 2005 to the reporting person. In exchange for this option grant the reporting person received 2,364 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
F2: On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on July 18, 2005 to the reporting person. In exchange for this option grant the reporting person received 2,585 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
F3: Canceled option provided for vesting 30%, 30%, and 40% on the third, fourth and fifth anniversary, respectively, beginning on December 31, 2008. On December 31, 2005, by action of the Board of Directors, option was accelerated and immediately vested.
F4: Canceled option provided for vesting in increments of 30%, 30%, and 40% on the third, fourth and fifth anniversary date, respectively beginning on July 18, 2008. On December 31, 2005, by action of the Board of Directors, option was accelerated and immediately vested.