SEC Form 4 · accession 0001209191-16-142256
Internap Corp · INAP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Peter D Aquino
Officer — President & CEO · Director
Period of report
Sep 19, 2016
Accepted (ET)
Sep 21, 2016 · 4:06 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 StockF1 | Sep 19, 2016 | A | 1,585,000 | $0.00 | A | 1,585,000 | D | |
| Common Stock | holding | — | — | — | 200,000 | I | By trust |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Received as a material inducement to enter into employment with Internap Corporation ("Internap") pursuant to the terms of a Restricted Stock Inducement Award Agreement between Internap and Peter D. Aquino. Of the total grant, 300,000 shares of restricted stock are subject to time-based vesting (in three year annual increments), 700,000 shares of restricted stock are subject to performance-based vesting based on Internap achieving specified stock price targets and the remaining 585,000 shares of restricted stock are subject to vesting based on both Internap achieving specified stock price targets and time-based vesting following Internap's achievement of those stock price targets. Vesting of the shares of restricted stock is conditioned upon Mr. Aquino's continued employment with Internap, and is subject to acceleration upon certain events.