SEC Form 4 · accession 0001683168-18-001613
LANTRONIX INC · LTRX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kevin Yoder
Officer — VP of Worldwide Sales
Period of report
Jun 5, 2018
Accepted (ET)
Jun 7, 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 Stock | Jun 5, 2018 | M | 30,000 | $0.86 | A | 89,668 | D | |
| Common StockF2 | Jun 5, 2018 | S | 30,000 | $3.39 | D | 59,668 | 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 | $0.86 | Jun 5, 2018 | M | 30,000 | D | — | Apr 2, 2023 | Common Stock | 30,000 | 70,000 | D |
Explanation of responses
- F1Represents shares of common stock acquired via exercise of Stock Options granted on April 1, 2016 (the "Grant Date") pursuant to an Inducement Stock Option Agreement.
- F2This transaction was executed in multiple trades at prices ranging from $3.38 to $3.43. 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.
- F3The option vests according to the following schedule: (i) 25% of the option (25,000 shares) vested on April 1, 2017, which was the one year anniversary of the Vesting Commencement Date (April 1, 2016) and (ii) 1/48 of the option vests on each monthly anniversary of the Vesting Commencement Date thereafter, such that 100% of the option will be fully vested on the four year anniversary of the Vesting Commencement Date.