SEC Form 4 · accession 0001247640-15-000013
POLYCOM INC · PLCM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Laura Durr
Officer — CFO
Period of report
Jun 10, 2015
Accepted (ET)
Jun 12, 2015 · 4:13 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001010552
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jun 10, 2015 | M | 5,891 | $0.00 | A | 84,368 | D | |
| Common StockF1 | Jun 10, 2015 | F | 3,074 | $13.53 | D | 81,294 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Share UnitsF2 | $0.00 | Jun 10, 2015 | M | 5,891 | D | — | — | Common Stock | 5,833 | 11,667 | D |
Explanation of responses
- F1This transaction represents an automatic withholding of shares by Polycom equal in current market value to the total required tax withholding due upon vesting.
- F2These Performance Shares awarded on May 28, 2014 were converted on a one-for-one basis into shares of Polycom, Inc. common stock following vesting, which occurred on June 10, 2015. The unvested award previously reported was at the target award level. The remaining 11,667 target shares underlying the award are scheduled to vest as to 5,833 shares on May 28, 2016, and 5,834 shares on May 28, 2017, or if later, the date the Compensation Committee certifies achievement of performance criteria for Total Shareholder Return for the remaining performance periods. Vesting of the remaining award depends on future performance and may range from 0% to 150% of the target amount.