Midwest Holding (MDWT) executive Bumbolow returned to the company 20,000 Stock Option (Right to Buy) at an average $12.70

Insider transactions reported

Thomas Bumbolow (executive at Midwest Holding Inc., MDWT) reported that they returned to the company 20,000 Stock Option (Right to Buy) at an average $12.70 on Dec 20, 2023.

Reporting person

Bumbolow Thomas

Options and other derivatives

Holdings before and after

• Stock Option (Right to Buy): 5,000 to 0 direct

Footnotes from the filing

1. 1. Pursuant to the Agreement and Plan of Merger, dated as of April 30, 2023 (the Merger Agreement ), by and among Midwest Holding Inc., a Delaware corporation (the Company ), Midas Parent, LP, a Delaware limited partnership ( Parent ) and Midas Merger Acquisition Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent, whereby at the effective time of the merger contemplated therein (the Effective Time ), each share of Company Common Stock issued and outstanding immediately prior to the Effective Time, subject to certain exceptions as provided in the Merger Agreement, was converted into the right to receive $27.00 in cash, without interest (the Merger Consideration ), subject to any required tax withholding as provided in the Merger Agreement.
2. 2. At the Effective Time, each Company stock option vested and exercisable or held by the reporting person, as well as non-employee directors or certain other identified individuals (whether or not vested or exercisable), and each Company stock option that vested upon the merger under the terms applicable thereto ( Vested Company Option ), in each case, that was in-the-money was cancelled and converted, in accordance with the terms of the Merger Agreement, into the right to receive a cash payment equal to, for each share of Common Stock subject to the Vested Company Option held by the reporting person immediately prior to the Effective Time, the excess of the Merger Consideration over the exercise price per share of Company Common Stock. At the Effective Time, each Vested Company Option that was out-of-the-money was cancelled for no consideration in accordance with the terms of the Merger Agreement.

Transaction codes in this filing

Sale back to the company:

Code D marks a disposition back to the company under an exempt plan, as opposed to a sale in the market.

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