SEC Form 4 · accession 0001209191-16-124132
Internap Corp · INAP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gary M Pfeiffer
Director
Period of report
May 26, 2016
Accepted (ET)
May 27, 2016 · 5:59 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001056386
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Restricted Common Stock | May 26, 2016 | F | 4,059 | $2.20 | D | 64,751 | D | |
| Restricted Common StockF2,F3 | May 27, 2016 | A | 23,404 | $0.00 | A | 88,155 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Shares withheld to satisfy minimum statutory tax obligations on vesting of restricted stock.
- F2One hundred percent of the shares of restricted common stock will vest on the date of the issuer's annual meeting of stockholders to be held in 2017.
- F3The shares of restricted stock were granted at an assumed value of $5.00 per share, rather than the fair market value of $2.24 per share on the date of grant. The Company used the same assumed value ($5.00 per share) for grants made to employees, including named executive officers, in February 2016 under its annual equity compensation program, notwithstanding that the fair market value on the date of grant was $2.00 per share. The shares of restricted stock were awarded in an exempt transaction pursuant to Rule 16b-3(d) of the Securities Exchange Act of 1934, as amended.