0000950157-18-001096.txt : 20181026 0000950157-18-001096.hdr.sgml : 20181026 20181026162820 ACCESSION NUMBER: 0000950157-18-001096 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20181026 FILED AS OF DATE: 20181026 DATE AS OF CHANGE: 20181026 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Maggs Michael Kelley CENTRAL INDEX KEY: 0001570949 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-35844 FILM NUMBER: 181141915 MAIL ADDRESS: STREET 1: C/O PINNACLE FOODS INC. STREET 2: 399 JEFFERSON ROAD CITY: PARSIPPANY STATE: NJ ZIP: 07054-3707 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: PINNACLE FOODS INC. CENTRAL INDEX KEY: 0001564822 STANDARD INDUSTRIAL CLASSIFICATION: FOOD & KINDRED PRODUCTS [2000] IRS NUMBER: 352215019 STATE OF INCORPORATION: DE FISCAL YEAR END: 1225 BUSINESS ADDRESS: STREET 1: 399 JEFFERSON ROAD CITY: PARSIPPANY STATE: NJ ZIP: 07054 BUSINESS PHONE: 973-541-6640 MAIL ADDRESS: STREET 1: 399 JEFFERSON ROAD CITY: PARSIPPANY STATE: NJ ZIP: 07054 FORMER COMPANY: FORMER CONFORMED NAME: Pinnacle Foods Inc. DATE OF NAME CHANGE: 20121217 4 1 form4.xml X0306 4 2018-10-26 true 0001564822 PINNACLE FOODS INC. PF 0001570949 Maggs Michael Kelley C/O PINNACLE FOODS INC 399 JEFFERSON ROAD PARSIPPANY NJ 07054-3707 true EVP, Secretary, GC Common Stock, par value $0.01 2018-10-26 4 D 0 54958 D 0 D Employee Stock Options (Right to Buy) 20 2018-10-26 4 D 0 66830 D 2023-03-27 Common Stock 66830 0 D Employee Stock Options (Right to Buy) 29.28 2018-10-26 4 D 0 24205 D 2024-04-01 Common Stock 24205 0 D Employee Stock Options (Right to Buy) 41.05 2018-10-26 4 D 0 17783 D 2025-04-01 Common Stock 17783 0 D Employee Stock Options (Right to Buy) 45.28 2018-10-26 4 D 0 23894 D 2026-04-01 Common Stock 23894 0 D Employee Stock Options (Right to Buy) 57.87 2018-10-26 4 D 0 18464 D 2027-04-01 Common Stock 18464 0 D Employee Stock Options (Right to Buy) 54.1 2018-10-26 4 D 0 23328 D 2028-04-01 Common Stock 23328 0 D Performance Rights 2018-10-26 4 A 0 8913 0 A 2018-10-26 2018-10-26 Common Stock 8913 16779 D Performance Rights 2018-10-26 4 D 0 16779 D 2018-10-26 2018-10-26 Common Stock 16779 0 D Performance Shares 2018-10-26 4 D 0 4981 D 2018-10-26 2018-10-26 Common Stock 4981 0 D Pursuant to the Agreement and Plan of Merger, dated as of June 26, 2018, as it may be amended from time to time (the "Merger Agreement"), by and among Pinnacle Foods Inc., a Delaware corporation (the "Company"), Conagra Brands Inc., a Delaware corporation (the "Parent"), and Patriot Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of Conagra ("Merger Sub"), effective as of immediately prior to the effective time of the merger of the Company and Merger Sub (the "Merger"), each share of Company common stock was converted into the right to receive $43.11 in cash and 0.6494 (the "Exchange Ratio") of a share of common stock of Parent (collectively, the "Merger Consideration"). Each acquisition and disposition reported in this Form 4 is an exempt transaction. Pursuant to the Merger Agreement, effective as of immediately prior to the effective time of the Merger, each outstanding and vested option to purchase the Company's common stock (a "Company Option") was canceled in exchange for the right to receive a cash amount equal to the number of shares of Company common stock subject to such Company Option as of immediately prior to the effective time of the Merger multiplied by the excess, if any, of the sum of (a) $43.11 and (b) the product of (i) the Exchange Ratio multiplied by (ii) the Parent Closing Price, over the exercise price of such Company Option. Pursuant to the Merger Agreement, effective as of immediately prior to the effective time of the Merger, each outstanding and unvested Company Option was converted into a cash-settled stock appreciation right relating to the number of shares of Parent common stock (rounded down to the nearest whole number) equal to (i) the number of shares of Company common stock subject to the Company Option immediately prior to the effective time of the Merger multiplied by (ii) the sum of (x) the Exchange Ratio and (y) the quotient of (1) $43.11 divided by (2) $35.9749, the volume weighted average price of one share of common stock of Parent on each of the 10 consecutive trading days ending with the complete trading day ending immediately prior to October 26, 2018 as reported on the New York Stock Exchange (the "Parent Closing Price") (collectively, the "Equity Award Exchange Ratio"), (Continued from Footnote 3) at a base price per share (rounded up to the nearest whole cent) equal to (A) the exercise price per share of Company common stock of such Company Option immediately prior to the effective time of the Merger divided by (B) the Equity Award Exchange Ratio. Each performance right (a "Company PSU") represented a right to receive one share of the Company's common stock, subject to the achievement of performance conditions. Reflects the number of Company PSUs that exceeded the target number (i.e., 100% achievement level) of Company PSUs or 2016 Company performance shares, as applicable, the acquisition of which were reported upon grant, in respect of fiscal years 2016, 2017 and 2018, which were deemed earned at a (i) 200% achievement level under 2016 Company PSU awards, (ii) 150% achievement level under 2017 PSU awards and (iii) 150% achievement level under 2018 PSU awards, in connection with the Merger based on the target award opportunity. Pursuant to the Merger Agreement, effective as of immediately prior to the effective time of the Merger, each outstanding and unvested Company PSU was converted into a time-based cash-settled restricted stock unit, denominated in shares of Parent common stock, with the number of shares of Parent common stock subject to such restricted stock unit (rounded up to the nearest whole number) equal to (i) the number of shares of Company common stock subject to such unvested Company PSU immediately prior to the effective time of the Merger (based on actual performance) multiplied by (ii) the Equity Award Exchange Ratio. Pursuant to the Merger Agreement, effective as of immediately prior to the effective time of the Merger, each performance share was automatically converted into the right to receive (i) the Merger Consideration, (ii) a cash amount equal to any accumulated and unpaid dividends and (iii) a cash payment in lieu of any fractional share of Parent common stock. Reflects the number of 2016 Company performance shares deemed earned at a 100% achievement level in connection with the Merger, the acquisition of which were reported upon grant. /s/ Uche Ndumele, by Power of Attorney 2018-10-26