0001140361-13-028678.txt : 20130723 0001140361-13-028678.hdr.sgml : 20130723 20130723162031 ACCESSION NUMBER: 0001140361-13-028678 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20130721 FILED AS OF DATE: 20130723 DATE AS OF CHANGE: 20130723 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: ChyronHego Corp CENTRAL INDEX KEY: 0000020232 STANDARD INDUSTRIAL CLASSIFICATION: PHOTOGRAPHIC EQUIPMENT & SUPPLIES [3861] IRS NUMBER: 112117385 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 5 HUB DR CITY: MELVILLE STATE: NY ZIP: 11747 BUSINESS PHONE: 6318452000 MAIL ADDRESS: STREET 1: 5 HUB DRIVE CITY: MELVILLE STATE: NY ZIP: 11747 FORMER COMPANY: FORMER CONFORMED NAME: CHYRON CORP DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: COMPUTER EXCHANGE INC DATE OF NAME CHANGE: 19760114 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: KIELISZAK JERRY CENTRAL INDEX KEY: 0001254333 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-09014 FILM NUMBER: 13981610 4 1 doc1.xml FORM 4 X0306 4 2013-07-21 0 0000020232 ChyronHego Corp CHYR 0001254333 KIELISZAK JERRY CHYRONHEGO CORP. 5 HUB DRIVE MELVILLE NY 11747 0 1 0 0 SVP & CFO Employee Stock Option (right to buy) 1.05 2013-07-21 4 J 0 8334 0.57 D 2013-11-07 Common Stock 8334 0 D Employee Stock Option (right to buy) 1.02 2013-07-21 4 J 0 25000 0.60 D 2015-06-03 Common Stock 25000 0 D The Issuer's acquisition of Hego AB on May 22, 2013 (the "closing date") qualified as a change-in-control as that term is defined in the Issuer's 1999 Incentive Compensation Plan (the "1999 Plan"). In accordance with the provisions of the 1999 Plan, these stock options were entitled to be, at the holder's election, surrendered in return for cash equal to the spread between the exercise price and the Change-in-Control Price, which is defined in the 1999 Plan as the highest closing price on the NASDAQ during the period 60 days prior to and 60 days after the closing date. The Reporting Person made such an election to cancel the stock option on July 21, 2013 and surrendered these stock options in return for a cash payment of $4,750.38, which represents the difference between the exercise price of $1.05 and the Change-in-Control Price of $1.62, multiplied by the number of shares subject to the stock option. The Issuer's acquisition of Hego AB on the closing date qualified as a change-in-control as that term is defined in the Issuer's 1999 Plan. In accordance with the provisions of the 1999 Plan, these stock options were entitled to be, at the holder's election, surrendered in return for cash equal to the spread between their exercise price and the Change-in-Control Price. The Reporting Person made such an election to cancel the stock option on July 21, 2013 and surrendered these stock options in return for a cash payment of $15,000.00, which represents the difference between the exercise price of $1.02 and the Change-in-Control Price of $1.62, multiplied by the number of shares subject to the stock option. Jerry Kieliszak 2013-07-23