June 28, 2024 · Form 4 insider transaction
FITZGERALD ROBERT E sold 10,000 shares of TSR INC at $13.40 per share, a transaction worth $134.0K. The trade was recorded as disposition to the issuer and disclosed on an SEC Form 4, filed 0 days after the transaction.
This row reports shares of unvested restricted Common Stock cancelled pursuant to the Merger Agreement, pursuant to which Merger Sub merged into Issuer, effective on June 28, 2024 (the "Effective Time"), with Issuer becoming a wholly owned indirect subsidiary of Parent. Pursuant to the terms of the Merger Agreement, at the Effective Time, each Unvested Restricted Stock Award (as defined in the Merger Agreement) that was outstanding immediately prior to the Effective Time, was cancelled and converted into the right to receive, for each Share underlying such Unvested Restricted Stock Award, an amount in cash without interest equal to the $13.40, less any applicable tax withholding.