SEC Form 4 · accession 0001311050-15-000059
POLYCOM INC · PLCM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Peter Leav
Officer — President & CEO · Director
Period of report
Aug 6, 2015
Accepted (ET)
Aug 10, 2015 · 4:15 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 | Aug 6, 2015 | M | 6,266 | $0.00 | A | 132,618 | D | |
| Common StockF1 | Aug 6, 2015 | F | 2,355 | $10.91 | D | 130,263 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance SharesF2 | $0.00 | Aug 6, 2015 | M | 6,266 | D | — | — | Common Stock | 6,266 | 13,334 | 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 August 6, 2014 were converted on a one-for-one basis into shares of Polycom, Inc. common stock following vesting, which occurred on August 6, 2015. The unvested award previously reported was at the target award level. The remaining 13,334 target shares underlying the award are scheduled to vest as to 6,666 shares on August 6, 2016 and 6,668 shares on August 6, 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.