SEC Form 4 · accession 0001209191-15-056216
MERU NETWORKS INC · MERU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark Liu
Officer — General Counsel
Period of report
May 15, 2015
Accepted (ET)
Jun 25, 2015 · 2:42 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001167294
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | May 15, 2015 | A | 1,500 | $1.2155 | A | 26,855 | D | |
| Common Stock | Jun 24, 2015 | M | 25,000 | $0.00 | A | 51,855 | D | |
| Common Stock | Jun 24, 2015 | F | 9,395 | $1.63 | D | 42,460 | 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 UnitsF3,F4 | $0.00 | Jun 24, 2015 | M | 25,000 | D | — | Jul 8, 2023 | Common Stock | 25,000 | 25,000 | D |
Explanation of responses
- F1Represents shares of common stock acquired pursuant to the Meru Networks Inc. Employee Stock Purchase Plan. This transaction is exempt under Rule 16b-3(c).
- F2In accordance with the ESPP, these shares were purchased based on 85% of the closing price of the issuer's common stock on May 15, 2015.
- F3Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of common stock of the issuer upon vesting.
- F4The RSUs will vest in annual installments over a period of three years, starting on the first anniversary of Mr. Liu's employment start date which was June 24, 2013, and with one third vesting each year thereafter, subject, in all cases, to his continued employment through each applicable vesting date. The RSU is subject to the change of control provisions described in the applicable change of control agreement.