Examples of BFC Options in a sentence
As of the date hereof, 2,947,448 shares of BFC Class A Common Stock and 1,139,087 shares of BFC Class B Common Stock are reserved for issuance upon exercise of outstanding BFC Options, 1,250,000 shares of BFC Class A Common Stock are reserved for issuance upon conversion of the 5% Cumulative Convertible Preferred Stock, 7,090,652 shares of BFC Class A Common Stock are reserved for issuance upon conversion of shares of BFC Class B Common Stock, and no shares of BFC Capital Stock are held in treasury.
Finally, our opinions are limited to the tax matters specifically covered thereby, and we have not been asked to address, nor have we addressed, any other tax consequences of the Merger, including, for example, any issues related to intercompany transactions, bad debt reserves, changes in accounting methods, or the conversion of BFC Options.
Together, the Class A Limited Voting Shares issuable under the amended Plan and in respect of the BFC Options total 12,539,666 and represent approximately 7.3% of the Corporation’s currently issued and outstanding Class A Limited Voting Shares.
As of the date hereof, 3,228,600 shares of BFC Class A Common Stock (including 176,233 shares reserved for issuance upon exercise of outstanding BFC Options) and 3,052,367 shares of BFC Class B Common Stock are reserved for issuance under the BFC Equity Plans, 13,718,928 shares of BFC Class A Common Stock are reserved for issuance upon conversion of shares of BFC Class B Common Stock, and no shares of BFC Capital Stock are held in treasury.
At the Effective Time, the BFC Options that are outstanding, whether or not exercisable, will be converted into and become rights with respect to SouthTrust Common Stock, and SouthTrust shall assume each BFC Option in accordance with the terms of the BFC Stock Plan and stock option agreement by which it is evidenced, except as provided in the Agreement.
As of February 27, 2004, 234,500 BFC Options have been exercised, leaving a reserve of 2,769,281 for the BFC Options not yet exercised.