SEC Form 4 · accession 0001019687-15-004441
LANTRONIX INC · LTRX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeff Benck
Officer — Chief Executive Officer · Director
Period of report
Dec 5, 2015
Accepted (ET)
Dec 7, 2015 · 7:12 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001114925
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to buy)F1 | $1.12 | Dec 5, 2015 | A | 150,000 | A | — | Dec 5, 2022 | Common Stock | 150,000 | 150,000 | D |
| Stock Option (Right to buy)F2 | $1.12 | Dec 5, 2015 | A | 150,000 | A | — | Dec 5, 2022 | Common Stock | 150,000 | 150,000 | D |
Explanation of responses
- F1The option vests according to the following schedule: 25% of the option (37,500 shares) vests on September 1, 2017 and the remainder of the option (112,500 shares) shall vest ratably each month thereafter over a period of 36 months.
- F2The option vests according to the following schedule: 25% of the option (37,500 shares) vests on September 1, 2018 and the remainder of the option (112,500 shares) shall vest ratably each month thereafter over a period of 36 months.