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OABC (MM)

26.17
0.00 (0.00%)
01 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
(MM) NASDAQ:OABC 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% 26.17 0 01:00:00

Statement of Changes in Beneficial Ownership (4)

18/12/2014 10:18pm

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
Estimated average burden
hours per response...
0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Turner Wesley R.
2. Issuer Name and Ticker or Trading Symbol

OmniAmerican Bancorp, Inc. [ OABC ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

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

1320 S. UNIVERSITY DRIVE, SUITE 900
3. Date of Earliest Transaction (MM/DD/YYYY)

12/17/2014
(Street)

FORT WORTH, TX 76107
(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   12/17/2014     D    25000   D   (1) (2) (3) 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
Employee Stock Option   $21.09   12/17/2014     D         20000      (4) 3/4/2024   common stock   20000     (5) 0   D    
Employee Stock Option   $21.05   12/17/2014     D         4000      (6) 7/10/2022   common stock   4000     (5) 0   D    
Employee Stock Option   $14.15   12/17/2014     D         8000      (7) 6/12/2021   common stock   8000     (5) 0   D    

Explanation of Responses:
( 1)  On April 28, 2014, OmniAmerican Bancorp, Inc., a Maryland corporation (the "Company") entered into an Agreement and Plan of Merger (the "Merger Agreement") with Southside Bancshares, Inc., a Texas corporation ("Southside"), and Omega Merger Sub, Inc., a Marland corporation and a wholly-owned subsidiary of Southside ("Merger Subsidiary"). Pursuant to the Merger Agreement, on December 17, 2014 Merger Subsidiary merged with and into the Company (the "First Merger"), with the Company continuing as the surviving corporation (the "Surviving Corporation"), and then immediately after the First Merger, on December 17, 2014 the Surviving Corporation merged with and into Southside, with Southside as the surviving corporation. Each issued and outstanding share of the Company's common stock, par value $0.01 per share ("Common Stock"), immediately prior to the Effective Time (as defined in the Merger Agreement) was converted into the right to receive: (continued on footnote #2)
( 2)  (i) 0.4459 of a share of validly issued, fully paid and nonassessable shares of common stock, par value $1.25 per share, of Southside ("Parent Common Stock") (together with any cash in lieu of fractional shares of Parent Common Stock, the "Stock Consideration"); and (ii) $13.125 per share of Common Stock in cash (the "Cash Consideration" and, together with the Stock Consideration, the "Merger Consideration"), on the terms and subject to the conditions set forth in the Merger Agreement.
( 3)  This amount includes 6,000 shares of restricted stock that vested in three or five equal annual installments on each anniversary of the grant date, which occurred on either March 4, 2014, July 10, 2012 or June 13, 2011. Pursuant to the terms of the Merger Agreement, the unvested shares of restricted stock were vested conditional upon the consummation of the First Merger and shares of restricted stock were also entitled to the Merger Consideration upon the consummation of the First Merger.
( 4)  This Stock Option Award vested in five equal annual installments on each anniversary of the grant date, March 4, 2014.
( 5)  Each option to purchase shares of Common Stock vested conditional upon the consummation of the First Merger and cancelled as of the Effective Time in exchange for the right to receive a cash payment per share of Common Stock equal to the excess (if any) of (a) the sum of (i) the Cash Consideration payable with respect to one share of Common Stock and (ii) the value of the Stock Consideration payable with respect to one share of Common Stock (with such value determined based on the closing price of the Parent Common Stock on December 16, 2014) over (b) the exercise price per share of the option being canceled.
( 6)  This Stock Option Award vested in five equal annual installments on each anniversary of the grant date, July 10, 2012.
( 7)  This Stock Option Award vested in three equal annual installments on each anniversary of the grant date, June 13, 2011.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Turner Wesley R.
1320 S. UNIVERSITY DRIVE
SUITE 900
FORT WORTH, TX 76107
X



Signatures
/s/ Wes Turner 12/18/2014
** 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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