SEC Form 4 · accession 0001683168-18-001500
LANTRONIX INC · LTRX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeremy Whitaker
Officer — Chief Financial Officer
Period of report
May 18, 2018
Accepted (ET)
May 22, 2018 · 4:30 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 StockF1 | May 18, 2018 | M | 55,000 | $1.77 | A | 182,975 | D | |
| Common StockF2 | May 18, 2018 | F | 35,144 | $2.77 | D | 147,831 | 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)F3 | $1.77 | May 18, 2018 | M | 55,000 | D | — | Sep 26, 2018 | Common Stock | 55,000 | 0 | D |
Explanation of responses
- F1Represents shares of common stock acquired via exercise of Stock Options granted on September 26, 2011 (the "Grant Date") under the Lantronix, Inc. Amended and Restated 2010 Stock Incentive Plan (the "2010 SIP").
- F2Constitutes previously owned shares surrendered to cover the exercise price of the option being exercised through a stock swap.
- F3The option vested according to the following schedule: 25% of the option (13,750 shares) vested on the first anniversary of the Grant Date and the remainder of the option (41,250 shares) vested ratably each month thereafter over a period of 36 months.