SEC Form 4 · accession 0001683168-16-000130
LANTRONIX INC · LTRX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Daryl R Miller
Officer — Vice President of Engineering
Period of report
Sep 14, 2016
Accepted (ET)
Sep 15, 2016 · 8:31 pm EDT
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 | $1.37 | Sep 14, 2016 | A | 50,000 | A | — | Sep 14, 2023 | Common Stock | 50,000 | 50,000 | D |
| Restricted Stock UnitsF2 | $0.00 | Sep 14, 2016 | A | 20,000 | A | — | — | Common Stock | 20,000 | 20,000 | D |
Explanation of responses
- F1The option vests according to the following schedule: 25% of the option (12,500 shares) vests on the first anniversary of the grant date and the remainder of the option (37,500 shares) shall vest ratably each month thereafter over a period of 36 months.
- F2The restricted stock units ("RSUs") shall vest such that (a) 25% of the shares (5,000 shares) vest on the one-year anniversary of the grant date and (b) 1/16 of the shares (1,250 shares) vest quarterly thereafter, such that one hundred percent (100%) of the RSUs will be fully vested on the four-year anniversary of the grant date.