SEC Form 4 · accession 0001628280-18-007998
VOLT INFORMATION SCIENCES, INC. · VISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Leonard Frank Naujokas
Officer — Controller & CAO
Period of report
Jun 14, 2018
Accepted (ET)
Jun 18, 2018 · 7:08 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000103872
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jun 14, 2018 | M | 1,639 | — | A | 1,639 | D | |
| Common Stock | Jun 14, 2018 | D | 1,639 | $3.70 | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF1,F2 | — | Jun 14, 2018 | M | 1,639 | D | — | — | Common Stock | 1,639 | 3,279 | D |
| Performance UnitF3 | — | Jun 14, 2018 | A | 4,485 | A | — | — | Common Stock | 4,485 | 4,485 | D |
| Restricted Stock UnitF4 | — | Jun 14, 2018 | A | 4,688 | A | — | — | Common Stock | 4,688 | 4,688 | D |
Explanation of responses
- F1Each phantom unit is the economic equivalent of one share of the registrant's common stock.
- F2On June 14, 2017, the reporting person was granted 4,918 phantom stocks payable in cash. The phantom stocks vest ratably on each of the first three anniversaries of the grant date.
- F3On June 14, 2018, the reporting person was granted 4,485 performance units. The performance units are eligible to vest and be settled 1/3 each year following the grant date based on certain stock price performance goals measured over the applicable performance period. At maximum level of achievement of the applicable stock price performance goal, up to 200% of the units granted are eligible to vest. Each performance unit represents a contingent right to receive one share of the registrant's common stock or the cash value thereof, subject to a cap on any cash value received.
- F4On June 14, 2018, the reporting person was granted 4,688 restricted stock units. Each restricted stock unit represents a contingent right to receive one share of the registrant's common stock or the cash value thereof, subject to a cap on any cash value received. The restricted stock units will vest ratably on each of the first three anniversaries of the grant date.