SEC Form 4 · accession 0001247640-15-000009
POLYCOM INC · PLCM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Frendo
Officer — EVP, Engineering
Period of report
Feb 27, 2015
Accepted (ET)
Mar 2, 2015 · 7:20 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001010552
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1 | $0.00 | Feb 27, 2015 | A | 55,000 | A | — | — | Common Stock | 55,000 | 55,000 | D |
| Performance SharesF2 | $0.00 | Feb 27, 2015 | A | 55,000 | A | — | — | Common Stock | 55,000 | 55,000 | D |
Explanation of responses
- F1Each Restricted Stock Unit represents a contingent right to receive one share of Polycom, Inc. common stock. This Restricted Stock Unit Award is scheduled to vest as to one-third of the total shares awarded on each of the first three (3) anniversaries of the February 27, 2015 Grant Date until fully vested on Febraury 27, 2018.
- F2Each Target Performance Share represents a contingent right to receive one share of Polycom, Inc. common stock. The Performance Shares vest upon achievement of certain performance criteria based on total shareholder return and are scheduled to vest as to one-third of the total target award on each of the first three (3) year anniversaries of the February 27, 2015 Grant Date (or such later date as the Compensation Committee certifies achievement of the performance criteria). The number of shares reflected on this filing is at the target award level. The actual number of shares that may vest ranges from 0% to 150% of the target amount, depending upon actual performance.