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FTGX Fibernet Telecom Grp. (MM)

11.46
0.00 (0.00%)
Pre Market
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Fibernet Telecom Grp. (MM) NASDAQ:FTGX NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 11.46 0 01:00:00

- Statement of Changes in Beneficial Ownership (4)

09/09/2009 9:21pm

Edgar (US Regulatory)


FORM 4
[ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Expires: February 28, 2011
Estimated average burden
hours per response...
0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

DELUCA JON A
2. Issuer Name and Ticker or Trading Symbol

FIBERNET TELECOM GROUP INC [ FTGX ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
CEO, President
(Last)          (First)          (Middle)

C/O FIBERNET TELECOM GROUP, INC., 230 WEST 42ND STREET
3. Date of Earliest Transaction (MM/DD/YYYY)

9/9/2009
(Street)

NEW YORK, NY 10036
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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 ($0.001 par value)   9/9/2009     D (1)    309043   D $11.45   0   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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)   $2.11   9/9/2009     D         75000    8/17/2006   8/17/2016   Common Stock ($0.001 par value)   75000   $9.34   (2) 0   D    
Stock Option (right to buy)   $11.30   9/9/2009     D         5100    7/30/2003   7/30/2013   Common Stock ($0.001 par value)   5100   $0.15   (2) 0   D    
Stock Option (right to buy)   $96.00   9/9/2009     D         2999    12/20/2001   12/20/2011   Common Stock ($0.001 par value)   2999   $0.00   (3) 0   D    
Stock Option (right to buy)   $1124.90   9/9/2009     D         332    12/21/2000   12/21/2010   Common Stock ($0.001 par value)   332   $0.00   (3) 0   D    
Stock Option (right to buy)   $1208.90   9/9/2009     D         299    6/14/1999   6/14/2009   Common Stock ($0.001 par value)   299   $0.00   (3) 0   D    
Stock Option (right to buy)   $1499.90   9/9/2009     D         283    12/3/1999   12/3/2009   Common Stock ($0.001 par value)   283   $0.00   (3) 0   D    
Stock Option (right to buy)   $1499.90   9/9/2009     D         416    12/18/1999   12/18/2009   Common Stock ($0.001 par value)   416   $0.00   (3) 0   D    

Explanation of Responses:
( 1)  Disposed of pursuant to the Agreement and Plan of Merger, dated as of May 28, 2009, by and among FiberNet Telecom Group, Inc. (the "Company"), Zayo Group, LLC and Zayo Merger Sub, Inc. (the "Merger Agreement"), in exchange for a cash payment of $11.45 per share of the Company's common stock (the "Common Stock") held by the reporting person.
( 2)  These options were, as a result of the consummation of the merger contemplated by the Merger Agreement, cancelled in exchange for the right to receive a cash payment equal to the product of the number of shares subject to such option multiplied by the excess, if any, of (a) $11.45 less (b) the exercise price per share of such option.
( 3)  Represents stock options cancelled at the Effective Time (as defined in the Merger Agreement), pursuant to the terms of the Merger Agreement. The reporting person did not receive any cash payment therefor as the exercise price exceeded the merger consideration of $11.45.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
DELUCA JON A
C/O FIBERNET TELECOM GROUP, INC.
230 WEST 42ND STREET
NEW YORK, NY 10036
X
CEO, President

Signatures
/s/ Jon A. DeLuca 9/9/2009
** 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 control number.

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