SEC Form 4 · accession 0001131554-17-000049
SYNCHRONOSS TECHNOLOGIES INC · SNCR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert Garcia
Officer — President and COO
Period of report
Mar 24, 2017
Accepted (ET)
Mar 28, 2017 · 8:29 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001131554
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 24, 2017 | A | 32,125 | $0.00 | A | 109,437 | D | |
| Performance SharesF2 | Mar 24, 2017 | A | 32,125 | $0.00 | A | 32,125 | 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 | $25.94 | Mar 24, 2017 | A | 91,787 | A | Feb 24, 2018 | Mar 24, 2024 | Common Stock | 91,787 | 91,787 | D |
Explanation of responses
- F1Shares of restricted stock granted pursuant to the Company's 2015 Equity Incentive Plan. One-third of the shares shall vest on each of February 24, 2018, 2019 and 2020.
- F2Represents target number of performance shares. The actual number of the shares subject to be issued, which could range from 0 to two times the initial target amount, will depend upon certain the issuer's Non-GAAP revenue, EBITDA and recurring revenue during 2017. The shares, if any, will be issued on or about February 2018. The Reporting Person will be entitled to sell the shares on or after February 24, 2020 provided the Reporting Person is continuously employed by the Company during that period.
- F3The option shall become exerciseable with respect to the first 25 percent of the shares subject to the option when the Reporting Person completes 12 months of continuous service after February 24, 2017. The option shall become exerciseable with respect to an additional 1/48th of the shares subject to the option when the Reporting Person completes each month of continuous service thereafter.