SEC Form 4 · accession 0001403609-16-000005
WESTELL TECHNOLOGIES INC · WSTL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas P. Minichiello
Officer — SVP, CFO, Tres, Secretary
Period of report
Apr 1, 2016
Accepted (ET)
Apr 5, 2016 · 11:10 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001002135
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common StockF1 | Apr 1, 2016 | A | 162,500 | $0.00 | A | 581,875 | D | |
| Class A Common Stock | Apr 1, 2016 | F | 2,730 | $1.16 | D | 579,145 | D | |
| Class A Common Stock | holding | — | — | — | 20,000 | I | By IRA |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee NQ Stock OptionF3 | $1.16 | Apr 1, 2016 | A | 162,500 | A | — | Apr 1, 2023 | Class A Common Stock | 162,500 | 162,500 | D |
Explanation of responses
- F1The Compensation Committee approved an award of restricted stock units (RSUs) pursuant to the 2015 Omnibus Inventive Compensation Plan. The RSUs vest 33% annually beginning on April 1, 2017 and for each of the following two years concluding on April 1, 2019. Upon vesting, the RSUs convert into shares of Class A Common Stock on a one-for-one basis.
- F2Withholding of stock to satisfy statutory tax withholding obligations on vesting of restricted stock.
- F3The Compensation Committee approved an award of non-qualified stock options pursuant to the 2015 Omnibus Incentive Compensation Plan. The options vest 33% annually beginning on April 1, 2017 and for each of the following two years concluding on April 1, 2019.