SEC Form 4 · accession 0001104659-16-126925
VOLT INFORMATION SCIENCES, INC. · VISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael D. Dean
Officer — President & CEO · Director
Period of report
Jun 9, 2016
Accepted (ET)
Jun 13, 2016 · 7:14 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000103872
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 | — | Jun 9, 2016 | A | 40,016 | A | — | — | Common Stock | 40,016 | 40,016 | D |
| Stock Option (right to buy)F1,F3 | $8.33 | Jun 9, 2016 | A | 182,050 | A | — | Oct 19, 2025 | Common Stock | 182,050 | 182,050 | D |
Explanation of responses
- F1On October 19, 2015, the registrant's board of directors approved a grant of (i) 182,050 options to purchase shares of the registrant's common stock and (ii) 40,016 restricted stock units, in each case, subject to shareholder approval of the registrant's 2015 Equity Incentive Plan (the "Plan"). The registrant's shareholders approved the Plan on June 9, 2016.
- F2Each restricted stock unit represents a contingent right to receive one share of the registrant's common stock or the cash value thereof. The restricted stock units will vest ratably on each of the first three anniversaries of October 19, 2015, subject to the reporting person's continued employment with the registrant on each applicable vesting date, to be settled within ten days following the applicable vesting date.
- F3The stock options will vest ratably on each of the first three anniversaries of October 19, 2015, subject to the reporting person's continued employment with the registrant on each applicable vesting date.