SEC Form 4 · accession 0001580231-17-000016
PIXELWORKS, INC · PXLW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David J. Tupman
Director
Period of report
May 10, 2017
Accepted (ET)
May 11, 2017 · 4:27 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001040161
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 10, 2017 | S | 6,000 | $5.49 | D | 44,139 | D | |
| Common StockF2 | May 10, 2017 | A | 6,496 | — | A | 50,635 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (right to buy)F3 | $5.50 | holding | — | — | — | — | Apr 2, 2020 | Common Stock | 10,000 | 10,000 | D |
Explanation of responses
- F1This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by Dr. Tupman in February 2017. The Rule 10b5-1 trading plan provides for the sale on a pre-specified date of up to 6,000 of the shares that were released to Dr. Tupman on May 9, 2017 in connection with the annual grant awarded to him upon reelection to the Board of Directors on May 11, 2016.
- F2Each restricted stock unit represents a contingent right to receive one share of the registrant's common stock. The restricted stock units will vest in full on the first to occur of (1) the day before the next annual meeting of the registrant's shareholders that follows the grant date or (2) the first anniversary of the grant date. The restricted stock units will be paid upon vesting, subject to any election by the reporting person to defer payment of the units to a later date.
- F325% vest on the first anniversary of the date of grant, with the remaining 75% vesting ratably on a monthly basis thereafter over three years.