SEC Form 4 · accession 0001311050-16-000093
POLYCOM INC · PLCM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Laura Durr
Officer — CFO
Period of report
May 28, 2016
Accepted (ET)
May 31, 2016 · 4:31 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 | May 28, 2016 | M | 11,666 | $0.00 | A | 138,205 | D | |
| Common StockF1 | May 28, 2016 | F | 4,386 | $11.97 | D | 133,819 | 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 UnitsF2 | $0.00 | May 28, 2016 | M | 5,833 | D | — | — | Common Stock | 5,833 | 5,834 | D |
| Performance SharesF3 | $0.00 | May 28, 2016 | M | 5,833 | D | — | — | Common Stock | 5,833 | 5,834 | 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.
- F2Restricted Stock Units are converted on a one-for-one basis into shares of Polycom, Inc. common stock following vesting, which vesting for 5,833 shares occurred on May 28, 2016. The remaining 5,834 shares underlying this award are scheduled to vest on May 28, 2017.
- F3These 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 May 28, 2016. The unvested award previously reported was at the target award level. The remaining 5,834 target shares underlying the award are scheduled to vest 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.