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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
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. | SEC 1474 (9-02) |
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 Underlying Securities (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) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Common Stock (1) | (2) | 02/24/2014 | A | 68,039 | (3) | 02/24/2017 | Common Stock | 68,039 | $ 0 (2) | 68,039 | D | ||||
Non-Qualified Stock Option (right to buy) (4) | $ 58.79 | 02/24/2014 | A | 134,759 | (5) | 02/24/2024 | Common Stock | 134,759 | $ 58.79 | 134,759 | D | ||||
Non-Qualified Stock Option (right to buy) (4) | $ 58.79 | 02/24/2014 | A | 365,241 | (6) | 02/24/2024 | Common Stock | 365,241 | $ 58.79 | 500,000 | D | ||||
Non-Qualified Stock Option (right to buy) (7) | $ 58.79 | 02/24/2014 | A | 182,366 | (5) | 02/24/2024 | Common Stock | 182,366 | $ 58.79 | 682,366 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Jain Vivek 951 CALLE AMANECER SAN CLEMENTE, CA 92673 |
X | Chairman and CEO |
By: Lynn DeMartini For: Vivek Jain | 02/26/2014 | |
**Signature of Reporting Person | Date |
* | 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). |
(1) | These securities are Restricted Stock Units awarded under the 2014 Inducement Stock Incentive Plan. |
(2) | There is neither a purchase price nor an exercise price for the Restricted Stock Units. |
(3) | Restricted Stock Units under the 2014 Inducement Stock Incentive Plan vest as one-third of the Units subject to the award on each of the first, second, and third anniversaries of the Vesting Commencement Date of February 13, 2014, with the employee having to be employed by the Company at the time of any vesting. One hundred percent of unvested units shall immediately vest as the result of an involuntary termination of employment. |
(4) | These options are awarded under the 2011 Stock Incentive Plan. |
(5) | Twenty-five percent of the shares shall vest on each of the first, second,third, and fourth anniversaries of the vesting commencement date of February 13, 2014. Fifty percent of the vested shares shall become exercisable if, during the term of the option, the closing price of the Company's common stock is equal to or more than one-hundred and twenty-five percent of the exercise price per share for thirty consecutive trading days. The remaining fifty percent of the vested shares shall become exercisable if, after the date of award and on or before the expiration date, the closing price of the Company's common stock is equal to or more than one-hundred and fifty percent of eh exercise price for 30 consecutive trading days. |
(6) | Options vest and are exercisable as to 25% of the underlying grant one year after the vesting commencement date of February 13, 2014 and in equal monthly installments thereafter for three additional years. |
(7) | These stock options are awarded under the 2014 Inducement Stock Option Plan. |