SEC Form 4 · accession 0001140361-17-032905
PROOFPOINT INC · PFPT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bhagwat Swaroop
Officer — EVP & GM, Protection
Period of report
Aug 18, 2017
Accepted (ET)
Aug 21, 2017 · 8:42 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001212458
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Aug 18, 2017 | M | 344 | $0.00 | A | 5,639 | D | |
| Common Stock | Aug 18, 2017 | M | 344 | $0.00 | A | 5,983 | D | |
| Common Stock | Aug 18, 2017 | F | 260 | $87.60 | D | 5,723 | 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 | Aug 18, 2017 | M | 344 | D | — | — | Common Stock | 344 | 4,125 | D |
| Restricted Stock UnitsF3,F4 | $0.00 | Aug 18, 2017 | M | 344 | D | — | — | Common Stock | 344 | 4,125 | D |
Explanation of responses
- F1Vesting of performance-based RSUs ("PRSUs") earned by the Reporting Person on May 1, 2017 as a result of the Reporting Person having met certain performance criteria.
- F2Exempt transaction pursuant to Section 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were relinquished by the Reporting Person and cancelled by the Issuer in exchange for the Issuer's agreement to pay federal and state tax withholding obligations of the Reporting Person resulting from the vesting of RSUs or PRSUs. The Reporting Person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than to cover required taxes.
- F3Each RSU represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
- F4The RSUs vest as to 3/16th of the total number of shares on May 1, 2017; 1/16th of the total number of shares on August 18, 2017; and thereafter will vest as to 1/4th of the total number of shares in equal annual installments beginning on August 18, 2018. Shares of the Issuer's common stock will be delivered to the Reporting Person following vesting.