-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NhV822bVn44+zbTFt6jdCqCprCzOrpDzOCRZG8eY3fQHXqEGXpqqdlcrzXbiWQyp OuXjHzizvwxZZCRsn7b1vA== 0000086346-03-000023.txt : 20030620 0000086346-03-000023.hdr.sgml : 20030620 20030620123544 ACCESSION NUMBER: 0000086346-03-000023 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030619 FILED AS OF DATE: 20030620 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: POSNER HOWARD CENTRAL INDEX KEY: 0001167505 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-06666 FILM NUMBER: 03751343 BUSINESS ADDRESS: STREET 1: C/O SALANT CORP STREET 2: 1114 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10036 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: SALANT CORP CENTRAL INDEX KEY: 0000086346 STANDARD INDUSTRIAL CLASSIFICATION: MEN'S & BOYS' FURNISHINGS, WORK CLOTHING, AND ALLIED GARMENTS [2320] IRS NUMBER: 133402444 STATE OF INCORPORATION: DE FISCAL YEAR END: 0102 BUSINESS ADDRESS: STREET 1: 1114 AVE OF THE AMERICAS STREET 2: 36TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 2122217500 MAIL ADDRESS: STREET 1: 1058 CLAUSSEN RDSTE 101 CITY: AUGUSTA STATE: GA ZIP: 30907 4 1 form4june03hp_ex.xml X0101 4 2003-06-19 0000086346 SALANT CORP SLNT 0001167505 POSNER HOWARD 0 1 0 0 Executive VP of Sourcing Options 4.125 2003-06-19 2003-06-19 4 J 0 50000 5.244 D 2003-06-19 2009-10-08 Common Stock 50000 0 D Options 1.640 2003-06-19 2003-06-19 4 J 0 10000 7.729 D 2003-06-19 2011-11-29 Common Stock 10000 0 D In connection with the merger agreement by and among the Issuer, Perry Ellis International, Inc. ("Perry Ellis") and Connor Acquisition Corp., a wholly owned subsidiary of Perry Ellis, dated February 3, 2003 ("Merger Agreement"), the reporting person agreed to surrender for cancellation all of his options in exchange for the right to receive an amount of cash and Perry Ellis common stock equal to the excess value of $9.3691 over the applicable exercise price for each share of Salant common stock subject to his outstanding options. This option consideration was delivered pursuant to the Merger Agreement and paid in the form of Perry Ellis common stock and cash. On the date of issuance, one-third of the reporting person's options were immediately exercisable and the remainder became exercisable equally over the next two years, however, pursuant to an agreement and release entered into by the reporting person under the terms of the Merger Agreement, the vesting of all then-unvested options was accelerated so that such options were fully vested and exercisable upon the closing of the transactions contemplated by the Merger Agreement. Howard Posner 2003-06-19 -----END PRIVACY-ENHANCED MESSAGE-----