Filing Details

Accession Number:
0000889930-14-000079
Form Type:
4
Zero Holdings:
No
Publication Time:
2014-12-03 17:08:44
Reporting Period:
2014-11-28
Filing Date:
2014-12-03
Accepted Time:
2014-12-03 17:08:44
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
889930 Overland Storage Inc OVRL Computer Storage Devices (3572) 953535285
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1302247 Eric Kelly 9112 Spectrum Center Blvd
San Diego CA 92123
President And Ceo Yes Yes No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Disposition 2014-11-28 10,000 $3.75 790,086 No 4 S Direct
Common Stock Disposition 2014-12-01 790,086 $0.00 0 No 4 D Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 S Direct
No 4 D Direct
Reported Derivative Transactions
Sec. Name Sec. Type Acquisiton - Disposition Date Amount Price Amount - 2 Price - 2
Common Stock Incentive Stock Option (right to buy) Disposition 2014-12-01 59,999 $0.00 59,999 $3.90
Common Stock Non-Qualified Stock Option (right to buy) Disposition 2014-12-01 1,200 $0.00 1,200 $3.75
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
0 2015-01-27 No 4 D Direct
0 2014-12-09 No 4 D Direct
Footnotes
  1. This transaction reflects the disposition of shares of the issuer's common stock pursuant to the Agreement and Plan of Merger, dated as of May 15, 2014, by and among the issuer, Sphere 3D Corporation ("Acquirer") and S3D Acquisition Company (the "Merger Agreement") in exchange for 0.46385 shares of Acquirer for each one share of issuer (the "Exchange Ratio"). The Market Value of Acquirer's stock on December 1, 2014 was $7.71.
  2. This number of shares includes 541,666 restricted stock units, each of which represents the right to receive one share of the issuer's common stock. Pursuant to the Merger Agreement, these restricted stock units will be assumed by the Acquirer and converted into the right to receive shares of Acquirer common stock as adjusted by the Exchange Ratio. The current vesting and other terms of the award continue in effect.
  3. This option, which is fully vested and exercisable, was assumed by the Acquirer and will be replaced with an option to purchase shares of Acquirer common stock. Both the number of shares under the option and the exercise price will be adjusted by the Exchange Ratio. The current vesting and other terms of the award continue in effect.