SEC Form 4 · accession 0001247640-16-000043
POLYCOM INC · PLCM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Laura Durr
Officer — CFO
Period of report
Feb 26, 2016
Accepted (ET)
Mar 1, 2016 · 8:17 pm EST
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 StockF1 | Feb 26, 2016 | M | 15,928 | $0.00 | A | 101,888 | D | |
| Common StockF2 | Feb 26, 2016 | F | 6,175 | $10.33 | D | 95,713 | D | |
| Common Stock | Feb 27, 2016 | M | 49,388 | $0.00 | A | 145,101 | D | |
| Common StockF2 | Feb 27, 2016 | F | 18,562 | $10.33 | D | 126,539 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF3 | $0.00 | Feb 26, 2016 | M | 7,964 | D | — | — | Common Stock | 7,964 | 7,964 | D |
| Performance SharesF4 | $0.00 | Feb 26, 2016 | M | 7,964 | D | — | — | Common Stock | 7,964 | 7,964 | D |
| Restricted Stock UnitsF5 | $0.00 | Feb 27, 2016 | M | 6,361 | D | — | — | Common Stock | 6,361 | 0 | D |
| Performance SharesF6 | $0.00 | Feb 27, 2016 | M | 6,361 | D | — | — | Common Stock | 6,361 | 0 | D |
| Restricted Stock UnitsF7 | $0.00 | Feb 27, 2016 | M | 18,333 | D | — | — | Common Stock | 18,333 | 36,667 | D |
| Performance SharesF8 | $0.00 | Feb 27, 2016 | M | 18,333 | D | — | — | Common Stock | 18,333 | 36,667 | D |
Explanation of responses
- F1Securities Beneficially Owned reflects shares acquired pursuant to issuer's Employee Stock Purchase Plan in a transaction exempt under Rule 16b-3.
- F2This transaction represents an automatic withholding of shares by Polycom equal in current market value to the total required tax withholding due upon vesting.
- F3Restricted Stock Units are converted on a one-for-one basis into shares of Polycom, Inc. common stock following vesting, which vesting for 7,964 shares occurred on February 26, 2016. The remaining 7,964 shares underlying this award are scheduled to vest on February 26, 2017.
- F4These Performance Shares awarded on February 26, 2014 were converted on a one-for-one basis into shares of Polycom, Inc. common stock following vesting, which occurred on February 26, 2016. The unvested award previously reported was at the target award level. The remaining 7,964 target shares underlying the award are scheduled to vest on February 26, 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.
- F5Restricted Stock Units are converted on a one-for-one basis into shares of Polycom, Inc. common stock following vesting, which vesting for 6,361 shares occurred on February 27, 2016. This award is now fully vested.
- F6These Performance Shares awarded on February 27, 2013 were converted on a one-for-one basis into shares of Polycom, Inc. common stock following vesting, which occurred on February 27, 2016. The unvested award previously reported was at the target award level. This award is now fully vested.
- F7Restricted Stock Units are converted on a one-for-one basis into shares of Polycom, Inc. common stock following vesting, which vesting for 18,333 shares occurred on February 27, 2016. The remaining 36,667 shares underlying this award are scheduled to vest as to 18,333 shares on February 27, 2017 and 18,334 shares on February 27, 2018.
- F8These Performance Shares awarded on February 27, 2015 were converted on a one-for-one basis into shares of Polycom, Inc. common stock following vesting, which occurred on February 27, 2016. The unvested award previously reported was at the target award level. The remaining 36,667 target shares underlying the award are scheduled to vest as to 18,333 shares on February 27, 2017, and 18,334 shares on February 27, 2018, 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.