SEC Form 4 · accession 0001615890-15-000004
Sonus, Inc. · SONS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kevin W. Riley
Officer — VP Engineering & CTO
Period of report
Mar 16, 2015
Accepted (ET)
Mar 17, 2015 · 4:39 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001105472
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 16, 2015 | A | 52,500 | $0.00 | A | 74,950 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance-Based Restricted Stock Units (PSUs)F2,F3 | — | Mar 16, 2015 | A | 17,500 | A | — | — | Common Stock | 17,500 | 17,500 | D |
Explanation of responses
- F1These are restricted shares of Common Stock that vest over a three-year period as follows: one-third of the shares shall vest on March 16, 2016. The remaining two-thirds of the shares shall vest in four equal increments semi-annually thereafter through March 16, 2018.
- F2Each PSU represents a contingent right to receive one share of the Issuer's Common Stock, based on the Issuer's total shareholder return (TSR) compared to pre-established relative TSR goals, based on the TSR of the NASDAQ Telecommunications Index, that were set by the Compensation Committee of the Issuer's Board of Directors. The aggregate number of shares issued may range from zero (0) shares to 120% of the target number of shares reported in columns 7 and 9 of this report.
- F3The PSUs will vest, if at all, on March 16, 2016, March 16, 2017 and March 16, 2018.