SEC Form 4 · accession 0001009626-16-000338
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 15, 2016
Accepted (ET)
Dec 16, 2016 · 7:59 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 15, 2016 | M | 133,304 | $5.66 | A | 909,108 | D | |
| Common StockF1 | Dec 15, 2016 | F | 98,631 | $12.41 | D | 810,477 | 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)F2 | $5.66 | Dec 15, 2016 | M | 133,304 | D | — | Jan 16, 2020 | Common Stock | 133,304 | 1,400,000 | 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 15, 2016.
- F2The options vest as to 25% of the shares on January 14, 2014, and 1/48 of the shares vest each month thereafter.