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
US XPRESS ENTERPRISES INC [ XPRSA ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 10/12/2007 | ||||||||||||||||||||||||||
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 | 10/12/2007 | J(1) | 36,816(1) | D | $20.1 | 0 | D | |||
Class A Common Stock | 10/12/2007 | J(2) | 308(2) | D | $20.1 | 0 | I | by Employee Stock Purchase Plan |
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 Options (Right-to-Buy) | $19.12 | 10/12/2007 | J(3) | 5,000 | (3) | 09/18/2012 | Class A Common Stock | 5,000 | (3) | 0 | D | ||||
Stock Options (Right-to-Buy) | $13.9 | 10/12/2007 | J(4) | 20,000 | (4) | 02/05/2014 | Class A Common Stock | 20,000 | (4) | 0 | D | ||||
Stock Options (Right-to-Buy) | $12.25 | 10/12/2007 | J(5) | 2,500 | (5) | 09/24/2008 | Class A Common Stock | 2,500 | (5) | 0 | D | ||||
Stock Options (Right-to-Buy) | $6.5 | 10/12/2007 | J(6) | 10,000 | (6) | 02/02/2010 | Class A Common Stock | 10,000 | (6) | 0 | D | ||||
Stock Options (Right-to-Buy) | $6.875 | 10/12/2007 | J(7) | 7,500 | (7) | 01/25/2011 | Class A Common Stock | 7,500 | (7) | 0 | D | ||||
Stock Options (Right-to-Buy) | $11.5 | 10/12/2007 | J(8) | 9,000 | (8) | 02/27/2012 | Class A Common Stock | 9,000 | (8) | 0 | D |
Explanation of Responses: |
1. Disposed of in connection with the tender offer and the merger of New Mountain Lake Acquisition Company ("NMLAC") with and into the Issuer (the "Merger") in exchange for a cash payment of $20.10 per share of the Issuer's Class A Common Stock. |
2. Disposed of in connection with the tender offer and the Merger in exchange for a cash payment of $20.10 per share of the Issuer's Class A Common Stock. |
3. The options to buy 5,000 shares of the Issuer?s Class A Common Stock under the Issuer?s 1993 Stock Incentive Plan, which originally provided for vesting at 25% on the first through the fourth anniversaries of the grant date beginning on September 18, 1998, were cancelled pursuant to the Merger in exchange for a cash payment of $4,900, representing (a) the difference between the per share exercise price of the option and the per share consideration received by stockholders in the Merger, times (b) the number of shares subject to the option. |
4. The options to buy 20,000 shares of the Issuer?s Class A Common Stock under the Issuer?s 2002 Stock Incentive Plan, which originally provided for vesting in three equal annual installments beginning on February 5, 2005, were cancelled pursuant to the Merger in exchange for a cash payment of $124,000, representing (a) the difference between the per share exercise price of the option and the per share consideration received by stockholders in the Merger, times (b) the number of shares subject to the option. |
5. The options to buy 2,500 shares of the Issuer?s Class A Common Stock under the Issuer?s 1993 Stock Incentive Plan, which originally provided for vesting at 25% on the first through the fourth anniversaries of the grant date beginning on September 24, 1999, were cancelled pursuant to the Merger in exchange for a cash payment of $19,625, representing (a) the difference between the per share exercise price of the option and the per share consideration received by stockholders in the Merger, times (b) the number of shares subject to the option. |
6. The options to buy 10,000 shares of the Issuer?s Class A Common Stock under the Issuer?s 1993 Stock Incentive Plan, which originally provided for vesting at 25% on the first through the fourth anniversaries of the grant date beginning on February 2, 2001, were cancelled pursuant to the Merger in exchange for a cash payment of $136,000, representing (a) the difference between the per share exercise price of the option and the per share consideration received by stockholders in the Merger, times (b) the number of shares subject to the option |
7. The options to buy 7,500 shares of the Issuer?s Class A Common Stock under the Issuer?s 1993 Stock Incentive Plan, which originally provided for vesting at 25% on the first through the fourth anniversaries of the grant date beginning on January 25, 2002, were cancelled pursuant to the Merger in exchange for a cash payment of $99,187.50, representing (a) the difference between the per share exercise price of the option and the per share consideration received by stockholders in the Merger, times (b) the number of shares subject to the option. |
8. The options to buy 9,000 shares of the Issuer?s Class A Common Stock under the Issuer?s 1993 Stock Incentive Plan, which originally provided for vesting at 33% on the first through the third anniversaries of the grant date beginning on February 27, 2003, were cancelled pursuant to the Merger in exchange for a cash payment of $77,400, representing (a) the difference between the per share exercise price of the option and the per share consideration received by stockholders in the Merger, times (b) the number of shares subject to the option. |
Remarks: |
/s/ Jeffrey S. Wardeberg | 10/16/2007 | |
** 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. |