George J. Welch - Jul 6, 2022 Form 4 Insider Report for Corning Natural Gas Holding Corp (CNIG)

Role
Director
Signature
/s/ George J. Welch
Stock symbol
CNIG
Transactions as of
Jul 6, 2022
Transactions value $
-$685,773
Form type
4
Date filed
7/6/2022, 04:34 PM
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CNIG Common Stock Disposed to Issuer -$686K -27.7K -100% $24.75 0 Jul 6, 2022 Direct F1
transaction CNIG Series A Preferred Stock Disposed to Issuer -10.6K -100% 0 Jul 6, 2022 Direct F2
transaction CNIG Series B Preferred Stock Disposed to Issuer -912 -100% 0 Jul 6, 2022 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

George J. Welch is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Common Stock included 21,450 shares of restricted stock and 4,791 shares acquired through the company's Dividend Reinvestment Program.
F2 Pursuant to that certain merger agreement with ACP Crotona Corp. and ACP Crotona Merger Sub Corp., Mr. Welch received an amount equal to $25.00 per share of Series A Preferred Stock plus an amount equal to any accumulated unpaid dividends then outstanding.
F3 Pursuant to that certain merger agreement with ACP Crotona Corp. and ACP Crotona Merger Sub Corp., Mr. Welch received an amount equal to $29.70 per share of Series B Preferred Stock consisting of $24.90 in respect of the Series B Preferred Stock liquidation preference and $4.80 in respect of the conversion right of the holders of the Series B Preferred Stock, plus an amount equal to any accumulated unpaid dividends then outstanding.