SEC Form 4 · accession 0001653654-17-000002
WESTELL TECHNOLOGIES INC · WSTL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael T Moran
Officer — SVP, IBW
Period of report
Apr 1, 2017
Accepted (ET)
Apr 3, 2017 · 5:08 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, 2017 | A | 50,000 | $0.00 | A | 375,916 | D | |
| Class A Common Stock | Apr 1, 2017 | F | 26,693 | $0.70 | D | 349,223 | 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 33% annually beginning on April 1, 2018 and for each of the following two years concluding on April 1, 2020. 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.