SEC Form 4 · accession 0001247640-16-000050
POLYCOM INC · PLCM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sayed Darwish
Officer — CLO & EVP, Corp Dev
Period of report
Mar 14, 2016
Accepted (ET)
Mar 16, 2016 · 7:53 pm EDT
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 | Mar 14, 2016 | A | 53,063 | A | — | — | Common Stock | 53,063 | 53,063 | D |
| Performance SharesF2 | $0.00 | Mar 14, 2016 | A | 53,063 | A | — | — | Common Stock | 53,063 | 53,063 | 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 in three (3) equal annual installments on each of the following vest dates: February 25, 2017, February 25, 2018 and February 25, 2019, subject to continued employment through the vesting date.
- 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 February 25, 2017, February 25, 2018 and February 25, 2019 (or such later dates 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 and also requires continued employment through the vesting date.