SEC Form 4 · accession 0001009626-16-000331
BROCADE COMMUNICATIONS SYSTEMS INC · BRCD
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ellen Odonnell
Officer — SVP & General Counsel
Period of report
Dec 13, 2016
Accepted (ET)
Dec 15, 2016 · 7:55 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 | 26,000 | $9.15 | A | 44,809 | D | |
| Common StockF1,F2 | Dec 13, 2016 | F | 21,756 | $12.39 | D | 23,917 | 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)F3 | $9.15 | Dec 13, 2016 | M | 26,000 | D | — | Jun 4, 2021 | Common Stock | 26,000 | 224,000 | D |
Explanation of responses
- F1Shares withheld for payment of exercise price and tax withholding liability pursuant to terms of the option agreement. The fair market value of Brocade common stock used for purposes of calculating the number of shares to be withheld was the closing price of Brocade common stock as reported on the NASDAQ Stock Market on December 13, 2016.
- F2Includes 864 shares acquired under Brocade's employee stock purchase plan on December 1, 2016.
- F3Options vest 25% on the first anniversary of June 4, 2014 and monthly thereafter over the remaining three years.