SEC Form 4 · accession 0001209191-16-105641
BROADSOFT, INC. · BSFT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Tessler
Officer — President & CEO · Director
Period of report
Mar 1, 2016
Accepted (ET)
Mar 3, 2016 · 5:59 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001086909
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Mar 1, 2016 | A | 7,215 | $0.00 | A | 218,420 | D | |
| Common StockF3 | Mar 1, 2016 | F | 2,615 | $38.35 | D | 215,805 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents shares of common stock underlying restricted stock units (the "RSUs") granted to the Reporting Person on March 1, 2016, as more particularly described in footnote (2) herein.
- F2Pursuant to the terms of the Company's 2015 Cloud Bonus Plan (the "2015 Cloud Plan"), the Compensation Committee of the Company's Board of Directors elected to pay the $227,010 award due to the Reporting Person under the 2015 Cloud Plan in RSUs. The RSUs were fully vested on the date of grant, and were settled in shares of the Issuer's common stock. The number of shares underlying the RSUs was calculated by dividing the dollar value of the award by the average closing price of the Issuer's stock on the NASDAQ Global Select Market for the 30 trading days ending two trading days prior to date of grant.
- F3The transaction reported represents the withholding of shares by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting and settlement of the award described in footnotes (1) and (2) herein.