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ESC Emeritus Corp.

33.46
0.00 (0.00%)
01 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Emeritus Corp. NYSE:ESC NYSE Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 33.46 0.00 01:00:00

Statement of Changes in Beneficial Ownership (4)

04/08/2014 7:30pm

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 *

BATY DANIEL R
2. Issuer Name and Ticker or Trading Symbol

EMERITUS CORPWA [ ESC ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

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

C/O EMERITUS CORPORATION, 3131 ELLIOTT AVE., STE 500
3. Date of Earliest Transaction (MM/DD/YYYY)

7/31/2014
(Street)

SEATTLE, WA 98121
(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   7/31/2014     D (1)    1167915   D   (1) 0   D    
Common Stock   7/31/2014     D (1)    2951920   D   (1) 0   I   By B.F., Limited Partnership   (2)

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)   $18.03   7/31/2014     D   (3)       20000    11/30/2011   (4) 11/30/2020   Common Stock   20000     (3) 0   D    

Explanation of Responses:
( 1)  Disposed of pursuant to the agreement and plan of merger dated as of February 20, 2014 ("Merger Agreement"), by and among the issuer, Brookdale Senior Living Inc. ("Brookdale") and Broadway Merger Sub Corporation, a wholly owned subsidiary of Brookdale, pursuant to which the outstanding shares of the issuer's common stock were converted into the right to receive 0.95 of a share of Brookdale common stock (net of any required withholding taxes with respect to restricted stock holdings). Any resulting fractional share was converted into the right to receive an amount of cash equal to (x) such fraction multiplied by (y) the product of (i) $35.5265, the value of Brookdale common stock at its volume-weighted average price over the 10 trading days immediately preceding the completion of the merger, and (ii) 0.95.
( 2)  The reporting person is sole director and shareholder of Columbia-Pacific Group, Inc., a Washington corporation, which is the general partner of B.F., Limited Partnership, a Washington limited partnership, of which the reporting person is also a limited partner. The reporting person disclaims beneficial ownership of the reported securities except to the extent of the reporting person's pecuniary interest therein.
( 3)  Disposed of pursuant to the Merger Agreement, pursuant to which each stock option to acquire the issuer's common stock (whether vested or unvested) was cancelled in exchange for a number of shares of Brookdale common stock (rounded down to the nearest whole share and net of any required withholding taxes) equal to (x) the number of shares of issuer common stock subject to the stock option multiplied by (y) the excess of $33.75 (the implied dollar value of the per share consideration) over the exercise price of the stock option, which amount was then divided by $35.5265 (the volume-weighted average price of Brookdale common stock over the 10 trading days immediately preceding the completion of the merger). The "implied dollar value" of the per share consideration received in the merger was determined by multiplying (i) the value of Brookdale common stock at its volume-weighted average price over the 10 trading days immediately preceding the completion of the merger, by (ii) 0.95.
( 4)  Date at which first vesting occurs is indicated. 1/4 of the total shares originally subject to the option become exercisable at the first vesting date and an additional 1/4 become exercisable on each of the next three anniversaries thereafter, but became fully vested in connection with the merger.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
BATY DANIEL R
C/O EMERITUS CORPORATION
3131 ELLIOTT AVE., STE 500
SEATTLE, WA 98121
X X Chairman of the Board

Signatures
/s/ Daniel R. Baty 8/4/2014
** 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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