SEC Form 4 · accession 0001512013-16-000002
WESTELL TECHNOLOGIES INC · WSTL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kirk R Brannock
Officer — Interim President & CEO
Period of report
Oct 17, 2016
Accepted (ET)
Oct 19, 2016 · 12:56 pm 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 | Oct 17, 2016 | A | 225,000 | $0.00 | A | 225,000 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The Compensation Committee approved an award of restricted stock units (RSUs) pursuant to the 2015 Omnibus Incentive Compensation Plan. The RSUs vest upon achievement of certain performance metrics approved by the Compensation Committee, provided that the Participant has not incurred a Termination of Employment prior to the achievement of the performance objectives. The Committee shall make such determination on or prior to the first anniversary of the Grant Date (and prior to any Termination of Employment). Upon vesting, the RSUs convert into shares of Class A Common Stock on a one-for-one basis.