SEC Form 4 · accession 0001127602-17-010318
MITEL NETWORKS CORP · MITL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard D McBee
Officer — See Remarks · Director
Period of report
Mar 1, 2017
Accepted (ET)
Mar 3, 2017 · 6:29 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001170534
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Shares | Mar 1, 2017 | M | 28,850 | $0.00 | A | 202,925 | D | |
| Common SharesF1 | Mar 2, 2017 | S | 7,940 | $6.5804 | D | 194,985 | 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 UnitsF2 | — | Mar 1, 2017 | M | 28,850 | D | — | — | Common Shares | 28,850 | 28,850 | D |
| Performance Share UnitsF3 | $0.00 | holding | — | — | — | — | Mar 1, 2020 | Common Shares | 217,000 | 217,000 | D |
| Restricted Stock UnitsF4 | $0.00 | holding | — | — | — | — | Mar 1, 2024 | Common Shares | 217,000 | 217,000 | D |
Explanation of responses
- F1This sale was made to cover taxes immediately following the vesting of previously granted RSUs.
- F2Represents 57,700 Common Shares underlying 57,700 RSUs granted to Mr. McBee on April 3, 2014. These RSUs will vest as follows: (i) 28,850 of the RSUs will vest on March 1, 2017; and (ii) 28,850 of the RSUs will vest on December 15, 2017.
- F3Date exercisable for PSUs will vary for each vesting tranche based on achievement of share price performance milestones. The PSUs will expire three years from the date of grant.
- F4Represents 217,000 Common Shares underlying 217,000 RSUs granted on March 1, 2017. These RSUs vest in four equal installments annually starting March 1, 2018.