SEC Form 4 · accession 0001437749-17-020461
SMTC CORP · SMTX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Edward J Smith
Officer — President & CEO · Director
Period of report
Dec 6, 2017
Accepted (ET)
Dec 8, 2017 · 7:30 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001108320
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Shares | Dec 6, 2017 | P | 9,000 | $1.6696 | A | 95,700 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F1 | $1.23 | holding | — | — | — | — | May 15, 2027 | Common Stock | 671,858 | 731,858 | D |
| Restricted Stock UnitsF2,F3 | — | holding | — | — | — | — | — | Common Stock | 60,000 | 60,000 | D |
Explanation of responses
- F1The stock options become exercisable, if at all, in five one-fifth (20%) of the covered shares upon the average closing share price of SMTC Corporation's common stock on the NASDAQ Stock Market is above each of $2.00, $3.00, $4.00, $5.00 and $6.00 per share for a 90 day period, subject to continued employment by the holder with SMTC Corporation during such period.
- F2Each restricted stock unit converts into shares of SMTC Corporation's common stock on a one-for-one basis.
- F3The restricted stock units vest upon the earlier to occur of: (i) the first anniversary of the grant date for the restricted stock units, which would be February 17, 2018, provided that Mr. Smith still providing services as President and Chief Executive of SMTC Corporation on such vesting date or (ii) a Covered Transaction (as defined in the SMTC 2010 Incentive Plan, as amended).