SEC Form 4 · accession 0001664179-16-000002
WESTELL TECHNOLOGIES INC · WSTL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Oscar Hernandez
Officer — SVP Engineering &Outside Plant
Period of report
Jan 11, 2016
Accepted (ET)
Jan 20, 2016 · 11:58 am EST
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 | Jan 11, 2016 | A | 180,000 | $0.00 | A | 180,000 | 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 | $1.21 | Jan 11, 2016 | A | 120,000 | A | — | Jan 11, 2023 | Class A Common Stock | 120,000 | 120,000 | D |
Explanation of responses
- F1On January 11, 2016, Mr. Hernandez received an award of restricted stock units (RSUs) pursuant to the 2015 Omnibus Inventive Compensation Plan. The RSUs vest 33% annually beginning on January 11, 2017 and for each of the following two years concluding on January 11, 2019. Upon vesting, the RSUs convert into shares of Class A Common Stock on a one-for-one basis.
- F2The Compensation Committee approved and award of non-qualified stock options pursuant to the 2015 Omnibus Incentive Compensation Plan. The options vest 33% annually beginning on January 11, 2017 and for each of the following two years concluding on January 11, 2019.