NEC buyout sees CSG Systems (CSGS) director’s shares redeemed for cash
CSG Systems International director Silvio Tavares disposed of 22,560 common shares of CSGS stock and 3,085 unvested restricted stock awards (RSAs) in connection with the company's merger with NEC Corporation. Each share and RSA was redeemed for $80.70 in cash, reflecting CSG Systems becoming a wholly owned subsidiary of NEC. This transaction confirms the mechanics of the previously agreed-upon all-cash merger.