SEC Form 4 · accession 0001127602-17-010325
MITEL NETWORKS CORP · MITL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steven Edward Spooner
Officer — Chief Financial Officer
Period of report
Mar 3, 2017
Accepted (ET)
Mar 3, 2017 · 7:10 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 SharesF1 | Mar 1, 2017 | M | 8,650 | $6.62 | A | 153,536 | D | |
| Common SharesF2 | Mar 2, 2017 | S | 4,040 | $6.5804 | D | 149,496 | D | |
| Common Shares | holding | — | — | — | 14,900 | I | Held By Registered Retirement Savings Plan For Steven Edward Spooner | |
| Common SharesF3 | holding | — | — | — | 5,100 | I | Held By The Spooner Children Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F4 | — | Mar 1, 2017 | M | 8,650 | D | — | — | Common Shares | 8,650 | 8,650 | D |
| Performance Share UnitsF5 | $0.00 | holding | — | — | — | — | Mar 1, 2020 | Common Shares | 67,000 | 67,000 | D |
| Restricted Stock UnitsF6 | $0.00 | holding | — | — | — | — | Mar 1, 2024 | Common Shares | 67,000 | 67,000 | D |
Explanation of responses
- F1Represents Common Shares received following the vesting of previously granted Restricted Stock Units ("RSUs")
- F2This sale was made to cover taxes immediately following the vesting of previously granted RSUs
- F35,100 common shares ("Common Shares") of Mitel Networks Corporation (the "Company") are held by the Spooner Children Trust, of which Mr. Spooner is one of three trustees, for the benefit of the children of Mr. Spooner. Mr. Spooner disclaims beneficial ownership of the Common Shares held for the benefit of his children and this report shall not be deemed an admission that Mr. Spooner is a beneficial owner of such shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
- F4Represents 17,300 Common Shares underlying 17,300 RSUs granted to Mr. Spooner on April 3, 2014. These RSUs will vest as follows: (i) 8,650 of the RSUs will vest on March 1, 2017; and (ii) 8,650 of the RSUs will vest on December 15, 2017.
- F5Date 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.
- F6Represents 67,000 Common Shares underlying 67,000 RSUs granted on March 1, 2017. These RSUs vest in four equal installments annually starting March 1, 2018.