| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | ||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
MIRANT CORP [ MIR ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 12/03/2010 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction 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 | 12/03/2010 | F | 13,147(8) | D | $10.39 | 40,855 | D | |||
| Common Stock | 12/03/2010 | D | 40,855 | D | (1) | 0 | D | |||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction 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 (Month/Day/Year) | 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: 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 | $13.19 | 12/03/2010 | D | 26,552 | (2) | 03/11/2020 | Common Stock | 26,552 | (2) | 0 | D | ||||
| Stock Option | $24.64 | 12/03/2010 | D | 2,537 | (3) | 01/13/2016 | Common Stock | 2,537 | (3) | 0 | D | ||||
| Stock Option | $25.05 | 12/03/2010 | D | 2,495 | (4) | 02/17/2016 | Common Stock | 2,495 | (4) | 0 | D | ||||
| Stock Option | $37.71 | 12/03/2010 | D | 3,862 | (5) | 03/08/2012 | Common Stock | 3,862 | (5) | 0 | D | ||||
| Stock Option | $37.02 | 12/03/2010 | D | 9,125 | (6) | 03/07/2013 | Common Stock | 9,125 | (6) | 0 | D | ||||
| Stock Option | $10.4 | 12/03/2010 | D | 25,006 | (7) | 03/03/2019 | Common Stock | 25,006 | (7) | 0 | D | ||||
| Explanation of Responses: |
| 1. Disposed of pursuant to merger agreement between issuer, RRI Energy Holdings, Inc., and RRI Energy, Inc. ("RRI") in exchange for 115,823 shares of RRI common stock having a market value of $3.62 per share on the effective date of the merger plus cash consideration for a fractional share of RRI common stock. |
| 2. Upon completion of the merger, this option, which provided for three-year ratable vesting on 3/11/11, 3/11/12 and 3/11/13, vested in full and was converted into an option to purchase 75,274 shares of RRI common stock at $4.66 per share. The reporting person also received cash consideration for that portion of the option relating to a fractional share of RRI common stock. |
| 3. Upon completion of the merger, this fully-vested option was converted into an option to purchase 7,192 shares of RRI common stock at $8.70 per share. The reporting person also received cash consideration for that portion of the option relating to a fractional share of RRI common stock. |
| 4. Upon completion of the merger, this fully-vested option was converted into an option to purchase 7,073 shares of RRI common stock at $8.84 per share. The reporting person also received cash consideration for that portion of the option relating to a fractional share of RRI common stock. |
| 5. Upon completion of the merger, this fully-vested option was converted into an option to purchase 10,948 shares of RRI common stock at $13.31 per share. The reporting person also received cash consideration for that portion of the option relating to a fractional share of RRI common stock. |
| 6. Upon completion of the merger, this option, which provided for three-year ratable vesting on 3/7/09, 3/7/10 and 3/7/11, vested in full and was converted into an option to purchase 25,869 shares of RRI common stock at $13.06 per share. The reporting person also received cash consideration for that portion of the option relating to a fractional share of RRI common stock. |
| 7. Upon completion of the merger, this option, which provided for three-year ratable vesting on 3/3/10, 3/3/11 and 3/3/12, vested in full and was converted into an option to purchase 70,892 shares of RRI common stock at $3.67 per share. The reporting person also received cash consideration for that portion of the option relating to a fractional share of RRI common stock. |
| 8. Reporting person disposed of these shares to satisfy tax withholding obligations related to the vesting of restricted stock units. |
| /s/ David E. Howard, Attorney-in-Fact | 12/07/2010 | |
| ** 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 Number. | ||