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 *

PETTY R WILLIAM
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)
Executive Chairman
(Last)          (First)          (Middle)

6717 NW 48TH LANE
3. Date of Earliest Transaction (MM/DD/YYYY)

2/2/2015
(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                  3146338   I   by Partnership  
Common Stock   2/2/2015     M (1)    3000   A $13.40   102400   D    
Common Stock   2/2/2015     S    3000   D $20.72   99400   D    
Common Stock   2/2/2015     M (2)    4500   A $14.12   74900   I   by Spouse  
Common Stock   2/2/2015     S    4500   D $20.76   70400   I   by Spouse  

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)   $13.40   2/2/2015     M   (1)       3000    11/30/2005   5/31/2015   Common Stock   20000   $13.40   9000   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)   $17.02                    2/16/2013   2/16/2016   Common Stock   68000     68000   D    
Non-Qualified Option (right to buy)   $18.10                    2/22/2012   2/22/2016   Common Stock   65421     65421   D    
Non-Qualified Option (right to buy)   $18.95                    2/28/2014   2/28/2017   Common Stock   17200     17200   D    
Non-Qualified Option (right to buy)   $16.33                    2/22/2017   (3) 2/22/2019   Common Stock   75000     75000   D    
Non-Qualified Option (right to buy)   $18.55                    2/25/2018   (4) 2/25/2020   Common Stock   75000     75000   D    
Non-Qualified Option (right to buy)   $20.90                    5/9/2019   (5) 5/9/2021   Common Stock   55217     55217   D    
Non-Qualified Stock Option (right to buy)   $14.12   2/2/2015     M   (2)       4500    11/30/2005   5/9/2015   Common Stock   30000   $14.12   13500   I   by Spouse   (6)
Non-Qualified Stock Option (right to buy)   $14.27                    12/18/2011   12/18/2016   Common Stock   5000     5000   I   by Spouse   (6)
Non-Qualified Option (right to buy)   $17.02                    2/16/2013   2/16/2016   Common Stock   11000     11000   I   by Spouse   (6)
Non-Qualified Option (right to buy)   $18.95                    2/28/2014   2/28/2017   Common Stock   2800     2800   I   by Spouse   (6)
Non-Qualified Option (right to buy)   $16.33                    2/22/2017   (7) 2/22/2019   Common Stock   11900     11900   I   by Spouse   (6)
Non-Qualified Option (right to buy)   $18.55                    2/25/2018   (8) 2/25/2020   Common Stock   3000     3000   I   By Spouse   (6)
Non-Qualified Option (right to buy)   $20.90                    5/9/2019   (9) 5/9/2021   Common Stock   8000     8000   I   By Spouse   (6)

Explanation of Responses:
( 1)  Such in-the-money options were exercised by the Reporting Person in lieu of allowing such options to expire by their terms on May 31, 2015 pursuant to a Rule 10b5-1 plan to exercise and sell the underlying common shares beginning on January 2, 2015 and expiring May 29,2015.
( 2)  Such in-the-money options were exercised by the Reporting Person in lieu of allowing such options to expire by their terms on May 9, 2015 pursuant to a Rule 10b5-1 plan to exercise and sell the underlying common shares beginning on January 2, 2015 and expiring May 8,2015.
( 3)  Such options are currently exercisable as regards 30,000 of the covered shares. The remaining shares are exercisable, as regards 15,000 of the covered shares, on the third anniversary of the date of grant, as regards 15,000 of the covered shares on the fourth anniversary of the date of grant, and as regards 15,000 of the covered shares, on the fifth anniversary of the date of grant.
( 4)  Such options are currently exercisable as regards 15,000 of the covered shares. The remaining shares are exercisable, as regards 15,000 of the covered shares, on the second anniversary of the date of grant, as regards 15,000 of the covered shares, on the third anniversary of the date of grant, as regards 15,000 of the covered shares on the fourth anniversary of the date of grant, and as regards 15,000 of the covered shares, on the fifth anniversary of the date of grant.
( 5)  Such options are exercisable as regards 11,043 of the covered shares, on the first anniversary of the date of grant, as regards 11,043 of the covered shares, on the second anniversary of the date of grant, as regards 11,043 of the covered shares, on the third anniversary of the date of grant, as regards 11,044 of the covered shares on the fourth anniversary of the date of grant, and as regards 11,044 of the covered shares, on the fifth anniversary of the date of grant.
( 6)  Such options were granted to Dr. Petty's spouse, Betty A. Petty, Vice President, Administration and Facilities, of the Issuer.
( 7)  Such options are currently exercisable as regards 4,760 of the covered shares. The remaining shares are exercisable, as regards 2,380 of the covered shares, on the third anniversary of the date of grant, as regards 2,380 of the covered shares on the fourth anniversary of the date of grant, and as regards 2,380 of the covered shares, on the fifth anniversary of the date of grant.
( 8)  Such options are currently exercisable as regards 600 of the covered shares. The remaining shares are exercisable, as regards 600 of the covered shares, on the second anniversary of the date of grant, as regards 600 of the covered shares, on the third anniversary of the date of grant, as regards 600 of the covered shares on the fourth anniversary of the date of grant, and as regards 600 of the covered shares, on the fifth anniversary of the date of grant.
( 9)  Such options are exercisable as regards 1,600 of the covered shares, on the first anniversary of the date of grant, as regards 1,600 of the covered shares, on the second anniversary of the date of grant, as regards 1,600 of the covered shares, on the third anniversary of the date of grant, as regards 1,600 of the covered shares on the fourth anniversary of the date of grant, and as regards 1,600 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
PETTY R WILLIAM
6717 NW 48TH LANE
GAINESVILLE, FL 32653


Executive Chairman

Signatures
/s/ William Petty 2/4/2015
** 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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