SEC Form 4 · accession 0001683168-18-003692
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 12, 2018
Accepted (ET)
Dec 13, 2018 · 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 StockF1 | Dec 12, 2018 | F | 18,672 | $3.00 | D | 283,255 | D | |
| Common StockF2 | Dec 12, 2018 | M | 50,014 | $1.12 | A | 333,269 | 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 | $1.12 | Dec 12, 2018 | M | 50,014 | D | — | Dec 5, 2022 | Common Stock | 50,014 | 74,986 | D |
Explanation of responses
- F1Constitutes previously owned shares surrendered to cover the exercise price of the option being exercised through a stock swap.
- F2Represents shares of common stock acquired via exercise of Stock Options granted on December 5, 2015 (the "Grant Date") under the Lantronix, Inc. Amended and Restated 2010 Stock Incentive Plan (the "2010 SIP").
- F3The option vests according to the following schedule: 25% of the option (37,500 shares) vested September 1, 2017 and the remainder of the option (112,500 shares) is vesting ratably each month thereafter over a period of 36 months.