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SQI Sciquest, Inc. (MM)

17.745
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Sciquest, Inc. (MM) NASDAQ:SQI 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% 17.745 17.74 17.76 0 01:00:00

Statement of Changes in Beneficial Ownership (4)

29/07/2016 2:29pm

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 *

Barber Jeffrey T
2. Issuer Name and Ticker or Trading Symbol

SCIQUEST INC [ SQI ]
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)

3020 CARRINGTON MILL BLVD., SUITE 100
3. Date of Earliest Transaction (MM/DD/YYYY)

7/28/2016
(Street)

MORRISVILLE, NC 27560
(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   7/28/2016     D    2330   (1) D $17.75   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)   $8.18   7/28/2016     D         22500      (2) 4/20/2020   Common Stock   22500   $9.57   (2) 0   D    
Stock Option (Right to Buy)   $15.61   7/28/2016     D         13750      (3) 6/2/2021   Common Stock   13750   $2.14   (3) 0   D    
Restricted Stock Unit     (4) 7/28/2016     D         2330      (5)   (5) Common Stock   2330     (5) 0   D    
Restricted Stock Unit     (4) 7/28/2016     D         3010      (6)   (6) Common Stock   3010     (6) 0   D    
Restricted Stock Unit     (4) 7/28/2016     D         4170      (7)   (7) Common Stock   4170     (7) 0   D    
Restricted Stock Unit     (4) 7/28/2016     D         6338      (8)   (8) Common Stock   6338     (8) 0   D    
Restricted Stock Unit     (4) 7/28/2016     D         8481      (9)   (9) Common Stock   8481     (9) 0   D    

Explanation of Responses:
( 1)  Disposed of pursuant to the Merger Agreement.
( 2)  This option was granted on April 20, 2010 with respect to 22,500 shares of the Issuer's common stock, with the shares vesting in 48 equal monthly installments, becoming fully exercisable as of March 25, 2014. Pursuant to the Merger Agreement, this option was cancelled in exchange for a cash payment of $215,325, which represents the product of (i) the aggregate number of shares of common stock subject to such vested portion of the option (22,500 shares) and (ii) the excess of the merger consideration of $17.75 per share over the exercise price of the option per share, with such cash payment subject to any required withholding of taxes.
( 3)  This option was granted on June 2, 2011 with respect to 13,750 shares of the Issuer's common stock, with the shares becoming fully exercisable as of June 2, 2012. Pursuant to the Merger Agreement, this option was cancelled in exchange for a cash payment of $29,425, which represents the product of (i) the aggregate number of shares of common stock subject to such vested portion of the option (13,750 shares) and (ii) the excess of the merger consideration of $17.75 per share over the exercise price of the option per share, with such cash payment subject to any required withholding of taxes.
( 4)  The restricted stock units convert into the right to receive an amount in cash equal to the product of (i) the total number of shares subject to such restricted stock unit and (ii) the per share merger consideration, less applicable taxes required to be withheld with respect to such payment.
( 5)  On April 25, 2012, the reporting person was granted 4,660 restricted stock units, vesting on April 25, 2013. Once vested, (i) 50% of the shares of common stock subject to this restricted stock unit were immediately issued and (ii) 50% of the shares subject to this restricted stock unit were to be issued upon the termination of the reporting person's service on the Board of Directors. Pursuant to the Merger Agreement, the remaining restricted stock units were cancelled in exchange for a cash payment of $41,357.50, which represents the product of (i) the aggregate number of remaining shares of common stock subject to such restricted stock units (2,330 shares) and (ii) the merger consideration of $17.75 per share, with such cash payment subject to any required withholding of taxes.
( 6)  On April 24, 2013, the reporting person was granted 3,010 restricted stock units, vesting on April 24, 2014. Once vested the shares subject to this restricted stock unit were to be issued upon the termination of the reporting person's service on the Board of Directors. Pursuant to the Merger Agreement, the restricted stock units were cancelled in exchange for a cash payment of $53,427.50, which represents the product of (i) the aggregate number of shares of common stock subject to such restricted stock units (3,010 shares) and (ii) the merger consideration of $17.75 per share, with such cash payment subject to any required withholding of taxes.
( 7)  On April 30, 2014, the reporting person was granted 4,170 restricted stock units, vesting on April 30, 2015. Once vested the shares subject to this restricted stock unit were to be issued upon the termination of the reporting person's service on the Board of Directors. Pursuant to the Merger Agreement, the restricted stock units were cancelled in exchange for a cash payment of $74,017.50, which represents the product of (i) the aggregate number of shares of common stock subject to such restricted stock units (4,170 shares) and (ii) the merger consideration of $17.75 per share, with such cash payment subject to any required withholding of taxes.
( 8)  On April 29, 2015, the reporting person was granted 6,338 restricted stock units, vesting on April 29, 2016. Once vested the shares subject to this restricted stock unit were to be issued upon the termination of the reporting person's service on the Board of Directors. Pursuant to the Merger Agreement, the restricted stock units were cancelled in exchange for a cash payment of $112,499.50, which represents the product of (i) the aggregate number of shares of common stock subject to such restricted stock units (6,338 shares) and (ii) the merger consideration of $17.75 per share, with such cash payment subject to any required withholding of taxes.
( 9)  On April 27, 2016, the reporting person was granted 8,481 restricted stock units, vesting on April 27, 2017. As the restricted stock units were not vested on July 28, 2016, the time of the Merger, the restricted stock units have been cancelled and forfeited for no consideration pursuant to the Merger Agreement.

Remarks:
On July 28, 2016, the Issuer became a wholly owned subsidiary of SciQuest Parent, LLC (f/k/a AKKR Green Parent, LLC) pursuant to the merger (the "Merger") effected in connection with that certain Agreement and Plan of Merger, dated May 30, 2016, by and among the Issuer, SciQuest Parent, LLC and AKKR Green Merger Sub, Inc. (the "Merger Agreement").

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Barber Jeffrey T
3020 CARRINGTON MILL BLVD.
SUITE 100
MORRISVILLE, NC 27560
X



Signatures
/s/ Grant W. Collingsworth, attorney-in-fact for Jeffrey T. Barber 7/29/2016
** 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.

1 Year Sciquest, Inc. (MM) Chart

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