SEC Form 4 · accession 0001683168-17-003228
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 1, 2017
Accepted (ET)
Dec 5, 2017 · 6:03 am 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 | Dec 1, 2017 | M | 37,500 | $0.00 | A | 226,813 | D | |
| Common Stock | Dec 1, 2017 | F | 19,299 | $2.01 | D | 207,514 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F1 | — | Dec 1, 2017 | M | 37,500 | D | — | — | Common Stock | 37,500 | 150,000 | D |
Explanation of responses
- F1Represents Restricted Stock Units ("RSUs") granted on April 28, 2016 pursuant to an Inducement Restricted Stock Unit Agreement (the "RSU Agreement"). The remaining RSUs vest at the rate of 37,500 each quarter through December 2018. On each vesting date, for each RSU vesting on such date, the reporting person will receive one share of Lantronix, Inc. common stock.
- F2In accordance with the terms of the RSU Agreement, 19,299 shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding.