Wireless Telecom Group (WTT) executive Whelan gave up 33,833 shares at $1.89 to cover taxes or an exercise price

Insider transactions reported

Timothy Whelan (executive at Wireless Telecom Group Inc., WTT) reported that they gave up 33,833 shares at $1.89 to cover taxes or an exercise price, and returned to the company 286,040 shares between Jan 7, 2023 and Aug 4, 2023. After these transactions the filing shows 0 shares held directly.

Reporting person

Whelan Timothy

Options and other derivatives

Holdings before and after

• Common Stock, par value $0.01 per share: 319,873 to 0 direct
• Stock Option: 130,000 to 0 direct

Footnotes from the filing

1. 1. Pursuant to the Agreement and Plan of Merger (the Merger Agreement ), dated as of May 24, 2023, by and among the Issuer, Maury Microwave, Inc., a Delaware corporation ( Maury ), and Troy Merger Sub, Inc., a New Jersey corporation wholly-owned by Maury ( Merger Sub ), effective August 4, 2023 (the Effective Time ), Merger Sub merged with and into the Issuer (the Merger ), with the Issuer continuing as the surviving corporation and a wholly-owned subsidiary of Maury.
2. 2. Pursuant to the Merger Agreement, at the Effective Time, each share of Issuer common stock, par value $0.01 per share ( Issuer Common Stock ), issued and outstanding immediately prior to the Effective Time, was converted into the right to receive a cash payment of $2.13 per share in cash (the Merger Consideration), without interest and less applicable withholding taxes.
3. 3. Pursuant to the Merger Agreement, at the Effective Time, each restricted stock award that was outstanding, accelerated in full and was cancelled and terminated as of the Effective Time, and each share of Issuer Common Stock that was subject to such award was converted into the right to receive the Merger Consideration, without interest and less applicable withholding taxes.
4. 4. Pursuant to the Merger Agreement, at the Effective Time, each stock option award (an Issuer Stock Option Award ) that was outstanding and that had an exercise price per share that was less than the Merger Consideration was accelerated in full and was cancelled, and each holder of such Issuer Stock Option will be paid an amount in cash with respect to each share of Issuer Common Stock subject to such option equal to the Merger Consideration less the applicable exercise price, less all applicable withholding and other authorized deductions. Each Issuer Stock Option Award with an exercise price greater than or equal to the Merger Consideration was cancelled with no consideration payable in respect thereof.

Transaction codes in this filing

Shares withheld for taxes or exercise price:

Code F marks shares handed back or withheld to pay taxes or an exercise price. No sale happens in the market.

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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