SEC Form 4 · accession 0001640530-16-000004
WESTELL TECHNOLOGIES INC · WSTL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles S. Bernstein
Officer — SVP Worldwide Sales
Period of report
Apr 1, 2016
Accepted (ET)
Apr 5, 2016 · 2:38 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 | Apr 1, 2016 | A | 100,000 | $0.00 | A | 288,771 | D |
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 OptionF2 | $1.16 | Apr 1, 2016 | A | 100,000 | A | — | Apr 1, 2023 | Class A Common Stock | 100,000 | 100,000 | 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.
- F2The 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.