SEC Form 4 · accession 0001023731-16-000076
8X8 INC /DE/ · EGHT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
A later amendment supersedes this filing — read the amendment. The figures below are kept as originally reported (version chain, not an overwrite).
Reporting owner
Puneet Arora
Officer — SVP Global Sales
Period of report
Sep 26, 2016
Accepted (ET)
Sep 28, 2016 · 8:01 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001023731
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F2 | $14.79 | Sep 26, 2016 | D | 23,960 | D | — | Sep 20, 2026 | Common Stock | 23,960 | 154,830 | D |
| Restricted Stock UnitF3,F4 | — | Sep 26, 2016 | A | 8,920 | A | — | Sep 20, 2019 | Common Stock | 8,920 | 118,479 | D |
Explanation of responses
- F1With the approval of the Board and the consent of the award recipient, these performance-based restricted stock units were granted and stock options were cancelled on September 26, 2016.
- F2This award vests at the rate of one forty-eighth of the shares on 10/20/2016 and at the end of each full month thereafter.
- F3Each restricted stock unit represents a contingent right to receive one share of EGHT common stock.
- F4RSUs vest (1) 50% on September 20, 2018 and (2) 50% on September 20, 2019, in each case subject to performance of 8x8's common stock relative to the Russell 2000 Index during the period from grant date through such vesting date. A 2x multiplier will be applied to the total shareholder returns (TSR) for each 1% of positive or negative relative TSR, and the number of shares earned will increase or decrease by 2% of the target number shown in table. In the event 8x8's common stock performance is below negative 30%, relative to the benchmark, no shares will be issued. Maximum number of shares issuable is two times the number shown in the table.
- F5With the approval of the Board and the consent of the award recipient, these stock options were cancelled and performance stock units were granted on September 26, 2016.