SEC Form 4 · accession 0001009626-16-000328
BROCADE COMMUNICATIONS SYSTEMS INC · BRCD
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lloyd Carney
Officer — Chief Executive Officer · Director
Period of report
Dec 13, 2016
Accepted (ET)
Dec 15, 2016 · 7:30 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001009626
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Dec 13, 2016 | M | 172,867 | $5.66 | A | 731,284 | D | |
| Common StockF1,F2 | Dec 13, 2016 | S | 128,824 | $12.392 | D | 602,460 | D | |
| Common Stock | Dec 14, 2016 | M | 693,829 | $5.66 | A | 1,296,289 | D | |
| Common StockF1,F3 | Dec 14, 2016 | S | 520,485 | $12.4043 | D | 775,804 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (right to buy)F4 | $5.66 | Dec 13, 2016 | M | 172,867 | D | — | Jan 16, 2020 | Common Stock | 172,867 | 2,227,133 | D |
| Non-Qualified Stock Option (right to buy)F4 | $5.66 | Dec 14, 2016 | M | 693,829 | D | — | Jan 16, 2020 | Common Stock | 693,829 | 1,533,304 | D |
Explanation of responses
- F1Shares sold for payment of exercise price and tax withholding liability pursuant to terms of the option agreement.
- F2The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $12.385 to $12.40, inclusive. The reporting person undertakes to provide Brocade Communications Systems, Inc., any security holder of Brocade Communications Systems, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
- F3The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $12.40 to $12.41, inclusive. The reporting person undertakes to provide Brocade Communications Systems, Inc., any security holder of Brocade Communications Systems, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
- F4The Options shall vest as to 25% of the shares on January 14, 2014 and 1/48 of the shares will vest each month thereafter.