SEC Form 4 · accession 0001023731-16-000046
8X8 INC /DE/ · EGHT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Vikram Verma
Officer — Chief Executive Officer
Period of report
Jun 2, 2016
Accepted (ET)
Jun 2, 2016 · 6:35 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001023731
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 31, 2016 | A | 35,712 | $0.00 | A | 333,251 | D | |
| Common StockF1 | May 31, 2016 | F | 13,420 | $0.00 | D | 319,831 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1In lieu of his full quarterly and annual cash compensation payment, Mr. Verma elected to receive a portion of his MIP bonus in the form of RSUs based on the terms of his employment agreement as 8x8's Chief Executive Officer. The Company's Board of Directors approved the issuance of 35,712 fully vested restricted stock units subject to settlement in shares of Common Stock as part of Mr. Verma's Q4 and annual MIP bonus.
- F2Payment of tax liability by withholding securities incident to vesting of restricted stock units.