SEC Form 4 · accession 0001127602-18-010491
MITEL NETWORKS CORP · MITL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Wesley Dean Durow
Officer — Chief Marketing Officer
Period of report
Feb 28, 2018
Accepted (ET)
Mar 7, 2018 · 3:10 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 Shares | Mar 5, 2018 | M | 10,125 | $0.00 | A | 30,474 | D | |
| Common SharesF1 | Mar 6, 2018 | S | 2,609 | $8.0086 | D | 27,865 | 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,F2 | — | Feb 28, 2018 | A | 36,675 | A | — | — | Common Shares | 36,675 | 36,675 | D |
| Performance Share UnitsF3,F2,F4 | — | Feb 28, 2018 | A | 36,675 | A | — | Feb 28, 2021 | Common Shares | 36,675 | 36,675 | D |
| Restricted Stock UnitsF5 | $0.00 | Mar 5, 2018 | M | 10,125 | D | — | — | Common Shares | 10,125 | 20,250 | D |
Explanation of responses
- F1Represents the automatic withholding of Common Shares to satisfy tax withholding obligations in connection with the vesting of RSUs.
- F2Represents 36,675 Common Shares underlying 36,675 RSUs granted on February 28, 2018. These RSUs vest in four equal installments annually starting February 28, 2019.
- F3The late filing of this equity award is due to a clerical error.
- F4Date 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.
- F5Represents 40,500 Common Shares underlying 40,500 Restricted Stock Units ("RSUs") granted to Mr. Durow on March 4, 2016. These RSUs will vest as follows: (i) 10,125 of the RSUs will vest on March 4, 2017; (ii) 10,125 of the RSUs will vest on March 4, 2018; (iii) 10,125 of the RSUs will vest on March 4, 2019; and (iv) 10,125 of the RSUs will vest on March 4, 2020.