FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

PHILLIPS JOEL C
2. Issuer Name and Ticker or Trading Symbol

EXACTECH INC [ EXAC ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
CFO and Treasurer
(Last)          (First)          (Middle)

6308 NW 81ST BOULEVARD
3. Date of Earliest Transaction (MM/DD/YYYY)

6/10/2014
(Street)

GAINESVILLE, FL 32653
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   6/10/2014     S    2742   D $24.83   86545   D    
Common Stock   6/10/2014     S    2258   D $24.70   84287   D    
Common Stock                  14003   I   by minor children  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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
Non-Qualified Stock Option (right to buy)   $14.12                    11/30/2005   5/9/2015   Common Stock   10000     10000   D    
Non-Qualified Stock Option (right to buy)   $14.27                    12/18/2011   12/18/2016   Common Stock   5000     5000   D    
Non-Qualified Option (right to buy)   $12.68                    2/18/2012   2/18/2015   Common Stock   5000     5000   D    
Non-Qualified Option (right to buy)   $17.02                    2/16/2013   2/16/2016   Common Stock   22000     22000   D    
Non-Qualified Option (right to buy)   $18.95                    2/28/2014   2/28/2017   Common Stock   5500     5500   D    
Incentive/Non-Qualified Option (right to buy)   $16.33                    2/22/2017   (1) 2/22/2019   Common Stock   45000     45000   D    
Non-Qualified Option (right to buy)   $18.55                    2/25/2018   (2) 2/25/2020   Commons Stock   26000     26000   D    
Non-Qualified Option (right to buy)   $20.90                    5/9/2019   (3) 5/9/2021   Common Stock   24000     24000   D    

Explanation of Responses:
( 1)  Such options are currently exercisable as regards 18,000 of the covered shares. The remaining shares are exercisable, as regards 9,000 of the covered shares, on the third anniversary of the date of grant, as regards 9,000 of the covered shares on the fourth anniversary of the date of grant, and as regards 9,000 of the covered shares, on the fifth anniversary of the date of grant.
( 2)  Such options are currently exercisable as regards 5,200 of the covered shares. The remaining shares are exercisable, as regards 5,200 of the covered shares, on the second anniversary of the date of grant, as regards 5,200 of the covered shares, on the third anniversary of the date of grant, as regards 5,200 of the covered shares on the fourth anniversary of the date of grant, and as regards 5,200 of the covered shares, on the fifth anniversary of the date of grant.
( 3)  Such options are exercisable as regards 4,800 of the covered shares, on the first anniversary of the date of grant, as regards 4,800 of the covered shares, on the second anniversary of the date of grant, as regards 4,800 of the covered shares, on the third anniversary of the date of grant, as regards 4,800 of the covered shares on the fourth anniversary of the date of grant, and as regards 4,800 of the covered shares, on the fifth anniversary of the date of grant.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
PHILLIPS JOEL C
6308 NW 81ST BOULEVARD
GAINESVILLE, FL 32653


CFO and Treasurer

Signatures
/s/ Joel C. Phillips 6/12/2014
** 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 control number.
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