SEC Form 4 · accession 0001683168-17-001587
LANTRONIX INC · LTRX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Andrew Fink
Officer — Vice President of Operations
Period of report
Jun 12, 2017
Accepted (ET)
Jun 14, 2017 · 8:39 pm EDT
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 | Jun 12, 2017 | M | 11,000 | $1.87 | A | 12,094 | D | |
| Common Stock | Jun 12, 2017 | S | 11,000 | $2.40 | D | 1,094 | D | |
| Common Stock | Jun 13, 2017 | M | 1,125 | $1.87 | A | 2,219 | D | |
| Common Stock | Jun 13, 2017 | M | 18,750 | $1.56 | A | 20,969 | D | |
| Common Stock | Jun 13, 2017 | M | 2,319 | $1.35 | A | 23,288 | D | |
| Common StockF2 | Jun 13, 2017 | S | 22,194 | $2.28 | D | 1,094 | D | |
| Common Stock | Jun 14, 2017 | M | 10,806 | $1.35 | A | 11,900 | D | |
| Common StockF3 | Jun 14, 2017 | S | 10,806 | $2.31 | D | 1,094 | D |
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)F4 | $1.87 | Jun 12, 2017 | M | 11,000 | D | — | Aug 26, 2021 | Common Stock | 11,000 | 29,000 | D |
| Stock Option (Right to buy)F4 | $1.87 | Jun 13, 2017 | M | 1,125 | D | — | Aug 26, 2021 | Common Stock | 1,125 | 27,875 | D |
| Stock Option (Right to buy)F5 | $1.56 | Jun 13, 2017 | M | 18,750 | D | — | Aug 22, 2020 | Common Stock | 18,750 | 1,250 | D |
| Stock Option (Right to buy)F6 | $1.35 | Jun 13, 2017 | M | 2,319 | D | — | Sep 1, 2022 | Common Stock | 2,319 | 27,681 | D |
| Stock Option (Right to buy)F6 | $1.35 | Jun 14, 2017 | M | 10,806 | D | — | Sep 1, 2022 | Common Stock | 10,806 | 16,875 | D |
Explanation of responses
- F1Represent shares of common stock acquired via exercise of stock options granted under the Lantronix, Inc. Amended and Restated 2010 Stock Incentive Plan (the "2010 SIP").
- F2This transaction was executed in multiple trades at prices ranging from $2.26 to $2.30. The price reported reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F3This transaction was executed in multiple trades at prices ranging from $2.30 to $2.34. The price reported reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F4The option vests according to the following schedule: 25% of the option (10,000 shares) vested on August 26, 2015, and the remainder of the option (30,000 shares) vest ratably each month thereafter over a period of 36 months.
- F5The option vests according to the following schedule: 25% of the option (5,000 shares) vested on August 22, 2014, and the remainder of the option (15,000 shares) vest ratably each month thereafter over a period of 36 months.
- F6The option vests according to the following schedule: 25% of the option (7,500 shares) vested on September 1, 2016, and the remainder of the option (22,500 shares) vest ratably each month thereafter over a period of 36 months.