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
FILENET CORP [ FILE ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 10/12/2006 | ||||||||||||||||||||||||||
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 | ||||||
Common Stock | 10/12/2006 | D | 7,500(1) | D | $35 | 0 | D | |||
Common Stock | 10/12/2006 | D | 5,000(2) | D | (2) | 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) | $21.38 | 10/12/2006 | D | 7,500 | (3) | 06/02/2010 | Common Stock | 7,500 | $13.62(3) | 0 | D | ||||
Stock Option (right to buy) | $23.47 | 10/12/2006 | D | 6,000 | (4) | 01/02/2011 | Common Stock | 6,000 | $11.53(4) | 0 | D | ||||
Stock Option (right to buy) | $12.475 | 10/12/2006 | D | 3,750 | (5) | 01/02/2013 | Common Stock | 3,750 | $22.525(5) | 0 | D | ||||
Stock Option (right to buy) | $12.475 | 10/12/2006 | D | 750 | (6) | 01/02/2013 | Common Stock | 750 | $22.525(6) | 0 | D | ||||
Stock Option (right to buy) | $28.185 | 10/12/2006 | D | 5,167 | (7) | 02/25/2014 | Common Stock | 750 | $6.815(7) | 0 | D | ||||
Stock Option (right to buy) | $28.185 | 10/12/2006 | D | 2,833 | (8) | 02/25/2014 | Common Stock | 2,833 | $6.815(8) | 0 | D | ||||
Stock Option (right to buy) | $27.135 | 10/12/2006 | D | 5,833 | (9) | 06/01/2014 | Common Stock | 5,833 | $7.865(9) | 0 | D | ||||
Stock Option (right to buy) | $27.135 | 10/12/2006 | D | 4,167 | (10) | 06/01/2014 | Common Stock | 4,167 | $7.865(10) | 0 | D | ||||
Stock Option (right to buy) | $26.64 | 10/12/2006 | D | 21,875 | (11) | 12/15/2014 | Common Stock | 21,875 | $8.36 | 0 | D | ||||
Stock Option (right to buy) | $26.64 | 10/12/2006 | D | 28,125 | (12) | 12/15/2014 | Common Stock | 28,125 | $8.36 | 0 | D | ||||
Restricted Stock Units | (13) | 10/12/2006 | D | 105,000 | (14) | (14) | Common Stock | 105,000 | (14) | 0 | D |
Explanation of Responses: |
1. Disposed of pursuant to the merger agreement (the "Merger Agreement") among the Issuer, International Business Machines Corporation ("IBM") and Nassau Acquisition Corp., a wholly-owned subsidiary of IBM (the "Merger"), which provides for the cancellation of shares of Common Stock of the Issuer in exchange for $35.00 per share (the "Merger Consideration"). Includes 5,000 shares of unvested restricted stock. |
2. Represents shares of unvested restricted stock converted in the Merger into a cash retention program at IBM in the aggregate amount payable of $175,000, subject to satisfaction of certain vesting conditions. The retention payments will be made in 2006, 2007 and 2008. |
3. This option, which provided for vesting in installments of 25% on June 1, 2001 and as to 1/36 of the total grant amount each month thereafter, was converted pursuant to the Merger Agreement in exchange for the per share Merger Consideration, less the applicable per share exercise price. |
4. This option, which provided for vesting in installments of 25% on January 1, 2002 and as to 1/36 of the total grant amount each month thereafter, was converted pursuant to the Merger Agreement in exchange for the per share Merger Consideration, less the applicable per share exercise price. |
5. This option, which provided for vesting in installments of 25% on January 2, 2004 and as to 1/36 of the total grant amount each month thereafter, was converted pursuant to the Merger Agreement in exchange for the per share Merger Consideration, less the applicable per share exercise price. |
6. This option, which provided for vesting in installments of 25% on January 2, 2004 and as to 1/36 of the total grant amount each month thereafter, was disposed of pursuant to the Merger Agreement into options to acquire 317 shares of common stock of IBM at a per share exercise price of $29.42. |
7. This option, which provided for vesting in installments of 25% on February 25, 2005 and as to 1/36 of the total grant amount each month thereafter, was converted pursuant to the Merger Agreement in exchange for the per share Merger Consideration, less the applicable per share exercise price. |
8. This option, which provided for vesting in installments of 25% on February 25, 2005 and as to 1/36 of the total grant amount each month thereafter, was disposed of pursuant to the Merger Agreement into options to acquire 1,200 shares of common stock of IBM at a per share exercise price of $66.49. |
9. This option, which provided for vesting in installments of 25% on June 1, 2005 and as to 1/36 of the total grant amount each month thereafter, was converted pursuant to the Merger Agreement in exchange for the per share Merger Consideration, less the applicable per share exercise price. |
10. This option, which provided for vesting in installments of 25% on June 1, 2004 and as to 1/36 of the total grant amount each month thereafter, was disposed of pursuant to the Merger Agreement into options to acquire 1,765 shares of common stock of IBM at a per share exercise price of $64.01. |
11. This option, which provided for vesting in installments of 25% on December 15, 2005 and as to 1/36 of the total grant amount each month thereafter, was converted pursuant to the Merger Agreement in exchange for the per share Merger Consideration, less the applicable per share exercise price. |
12. This option, which provided for vesting in installments of 25% on December 15, 2005 and as to 1/36 of the total grant amount each month thereafter, was disposed of pursuant to the Merger Agreement into options to acquire 11,921 shares of common stock of IBM at a per share exercise price of $62.84. |
13. Each RSU represents a right to receive one (1) share of Issuer's Common Stock. |
14. The RSUs originally vested based upon targeted financial performance goals subject to partial acceleration upon change of control. Pursuant to the Merger, 50% of the RSUs, representing 52,500 shares, will accelerate vesting and be cashed out for the Merger Consideration totaling $1,837,500. The remaining 50% of the RSUs, representing 52,500 shares, will be converted into IBM RSUs representing 22,255 shares of Common Stock of IBM. |
Sam M. Auriemma, Attorney-in-Fact for L. Kim Poindexter | 10/16/2006 | |
** 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. |