FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
MORTON INDUSTRIAL GROUP INC [ MGRP ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 08/25/2006 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Class A Common Stock | 08/25/2006 | J(1) | 25,000 | D | $10 | 91,196 | D | |||
Class A Common Stock | 08/25/2006 | D(2) | 91,196 | D | $10 | 0 | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option (right to buy) | $1.875 | 08/25/2006 | D | 15,000 | (3) | 02/05/2011 | Class A Common Stock | 15,000 | (4) | 0 | D | ||||
Stock Option (right to buy) | $0.325 | 08/25/2006 | D | 4,167 | 06/17/2005 | 06/17/2012 | Class A Common Stock | 4,167 | (5) | 0 | D | ||||
Stock Option (right to buy) | $0.15 | 08/25/2006 | D | 33,334 | 02/26/2006 | 02/26/2013 | Class A Common Stock | 33,334 | (6) | 0 | D |
Explanation of Responses: |
1. Disposed of pursuant to the contribution agreement among the Reporting Person, MMC Precision Holdings Corp. ("Holdings") and the other parties thereto in connection with the merger (the "Merger") between issuer and MMC Precision Merger Corp. ("Merger Sub") in exchange for 250,000 shares of Holdings common stock having a market value of $1.00 per share on the effective date of the Merger. |
2. Disposed of in the Merger pursuant to the merger agreement between Issuer, Merger Sub and Holdings (the "Merger Agreement") in exchange for $911,960. |
3. This option grant was exercisable as follows: 5,000 shares on 2/05/2002, 5,000 shares on 2/05/2003 and 5,000 shares on 2/05/2004. |
4. This option was canceled in the Merger in exchange for a cash payment of approximately $121,875, representing the difference between exercise price of the option and the $10.00 per share of Class A common stock payable by Holdings under the Merger Agreement on the effective date of the Merger ($8.125 per share). |
5. This option was canceled in the Merger in exchange for a cash payment of approximately $40,316, representing the difference between exercise price of the option and the $10.00 per share of Class A common stock payable by Holdings under the Merger Agreement on the effective date of the Merger ($9.675 per share). |
6. This option was canceled in the Merger in exchange for a cash payment of approximately $328,340, representing the difference between the exercise price of the option and the $10.00 per share of Class A common stock payable by Holdings under the Merger Agreement on the effective date of the Merger ($9.85 per share). |
/s/ Daryl R. Lindemann | 08/28/2006 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |