SEC Form 4 · accession 0001683168-17-000487

LANTRONIX INC · LTRX

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — Chief Executive Officer · Director

Period of report

Mar 1, 2017

Accepted (ET)

Mar 3, 2017 · 4:30 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001114925

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock	Mar 1, 2017	M	37,500	$0.00	A	148,233	D
Common Stock	Mar 1, 2017	F	19,874	$2.87	D	128,359	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Restricted Stock Units^F2,F1	—	Mar 1, 2017	M	37,500	D	—	—	Common Stock	37,500	262,500	D

F1As reported on a Form 4 filed on April 29, 2016, the reporting person received a grant of 450,000 Restricted Stock Units ("RSUs") on April 28, 2016 pursuant to an Inducement Restricted Stock Unit Agreement (the "RSU Agreement"). The shares subject to the RSUs vest according to the following schedule: one-third (150,000) of the RSUs vest on December 1, 2016 and the remaining RSUs (300,000) shall vest ratably each quarter thereafter for a period of 24 months. On each vesting date, for each RSU vesting on such date, the reporting person will receive one share of Lantronix, Inc. common stock. On December 1, 2016, the initial one-third of these RSUs vested, resulting in the issuance of 150,000 shares of Lantronix, Inc. common stock. On March 1, 2017, one-eighth of the remaining 300,000 RSUs vested, resulting in the issuance of 37,500 shares of Lantronix, Inc. common stock.
F2In accordance with the terms of the RSU Agreement, 19,874 shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding.