SEC Form 4 · accession 0001023731-17-000034
8X8 INC /DE/ · EGHT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Puneet Arora
Officer — SVP Global Sales
Period of report
Sep 19, 2017
Accepted (ET)
Sep 21, 2017 · 9:35 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitF1,F2 | — | Sep 19, 2017 | A | 9,232 | A | — | Sep 19, 2020 | Common Stock | 9,232 | 126,499 | D |
| Restricted Stock UnitF1,F3 | — | Sep 19, 2017 | A | 11,264 | A | — | Sep 19, 2021 | Common Stock | 11,264 | 137,763 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of EGHT common stock.
- F2RSUs vest (1) 50% on September 19, 2019 and (2) 50% on September 19 2020, 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.
- F3This award vests at the rate of one-fourth of such shares at September 19, 2018, one-fourth of such shares at September 19, 2019, one-fourth of such shares at September 19, 2020 and one-fourth of such shares at September 19, 2021.