0001209191-22-062671.txt : 20221223 0001209191-22-062671.hdr.sgml : 20221223 20221223202129 ACCESSION NUMBER: 0001209191-22-062671 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20221221 FILED AS OF DATE: 20221223 DATE AS OF CHANGE: 20221223 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Jaffe Bruce A. CENTRAL INDEX KEY: 0001464759 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-37745 FILM NUMBER: 221486656 MAIL ADDRESS: STREET 1: 9235 NE 37TH PLACE CITY: YARROW POINT STATE: WA ZIP: 98004 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: REALNETWORKS INC CENTRAL INDEX KEY: 0001046327 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] IRS NUMBER: 911628146 STATE OF INCORPORATION: WA FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 1501 FIRST AVENUE SOUTH STREET 2: SUITE 600 CITY: SEATTLE STATE: WA ZIP: 98134 BUSINESS PHONE: 2066742700 MAIL ADDRESS: STREET 1: 1501 FIRST AVENUE SOUTH STREET 2: SUITE 600 CITY: SEATTLE STATE: WA ZIP: 98134 4 1 doc4.xml FORM 4 SUBMISSION X0306 4 2022-12-21 1 0001046327 REALNETWORKS INC RNWK 0001464759 Jaffe Bruce A. 1501 FIRST AVENUE SOUTH SUITE 600 SEATTLE WA 98134 1 0 0 0 Restricted Stock Units 0.73 2022-12-21 4 J 0 214173 0.73 D 2022-12-21 2022-12-21 Common Stock 214173 0 D Stock Options (right to buy) 0.0695 2022-12-21 4 J 0 5000 0.73 D 2022-12-21 2022-12-21 Common Stock 5000 0 D On July 27, 2022, the Issuer entered into an Agreement and Plan of Merger (the "Merger Agreement") with Greater Heights LLC, a Washington limited liability company ("Parent"), Greater Heights Acquisition LLC, a Washington limited liability company and wholly owned subsidiary or Parent ("Merger Sub") and, exclusively for purposes specified in the Merger Agreement, Robert Glaser, an individual resident of Washington ("Parent Guarantor"). Pursuant to the Merger Agreement, on December 21, 2022, Merger Sub merged with and into the Company, and the Merger Sub continued as the surviving corporation and as a wholly owned subsidiary of Parent (the "Merger"), under the name "RealNetworks LLC". Pursuant to the Merger Agreement, effective as of the effective time of the Merger (the "Effective Time"), together with the applicable terms of the RealNetworks,Inc. 2020 Inducement Equity Plan, the RealNetworks, Inc. 1996 Stock Option Plan, the RealNetworks, Inc. 2005 Stock Incentive Plan and the RealNetworks, Inc. 2007 Employee Stock Purchase Plan (collectively, the "Company Stock Plans"), each performance or restricted stock unit subject to vesting, repurchase, or other lapse of restrictions that was outstanding vested in full (including any outstanding and otherwise unvested restricted stock units all of which vested in full pursuant to their applicable award terms due to not being assumed or substituted for in connection with the Merger) and became free of restrictions and was cancelled and converted automatically into the right to receive the Merger Consideration. In connection with the Merger, these shares were cancelled and converted into the right to receive $0.73 in cash, without interest, per share, subject to the terms and conditions of the Merger Agreement (the "Merger Consideration"). Pursuant to the Merger Agreement, effective as of the Effective Time of the Merger, together with the applicable terms of the Issuer Stock Plan, each outstanding stock option was cancelled and converted into the right to receive an amount of cash, without interest, equal to the product obtained by multiplying (1) the aggregate number of shares of Issuer common stock subject to such stock option by (2) the excess, if any, of the Merger Consideration over the per share exercise price of the Issuer's common stock underlying such stock option, less any taxes that are required to be withheld under the Merger Agreement. The foregoing descriptions in notes (1),(2),(3) and (4) are qualified in their entirety by reference to the terms of the Merger Agreement and the Company Stock Plans. In the event of any conflict between the descriptions above and the terms set forth in the Merger Agreement or the Company Stock Plans, as applicable, the terms set forth in the Merger Agreement or the Company Stock Plans, as applicable, shall control. /s/ Michael Parham, attorney-in-fact 2022-12-23