SEC Form 4/A · accession 0001219210-15-000048
IKANOS COMMUNICATIONS, INC. · IKAN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
This is an amendment (Form 4/A). It replaces an earlier filing for the same period.
Reporting owner
Omid Tahernia
Officer — CEO and President · Director
Period of report
Feb 11, 2015
Accepted (ET)
Feb 18, 2015 · 5:59 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001219210
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F1 | $0.41 | Feb 11, 2015 | A | 902,880 | A | — | Feb 11, 2022 | Common Stock | 902,880 | 902,880 | D |
| Restricted Stock UnitsF2,F3,F4 | $0.00 | Feb 11, 2015 | A | 948,920 | A | — | — | Common Stock | 948,920 | 948,920 | D |
| Stock Option (right to buy)F5 | $0.41 | Feb 11, 2015 | A | 424,880 | A | — | Feb 11, 2020 | Common Stock | 424,880 | 424,880 | D |
| Stock Option (right to buy)F6 | $0.89 | Feb 11, 2015 | D | 600,000 | D | — | Jun 11, 2019 | Common Stock | 600,000 | 0 | D |
| Stock Option (right to buy)F6 | $0.89 | Feb 11, 2015 | A | 600,000 | A | — | Jun 11, 2019 | Common Stock | 600,000 | 600,000 | D |
Explanation of responses
- F125% of the Shares subject to the option shall vest on the one-year anniversary of the vesting commencement date of September 29, 2014 and 6.25% of the shares shall vest on each subsequent three (3) month anniversary of the vesting commencement date, subject to the Reporting Person continuing to be a service provider through each such date.
- F2Each restricted stock unit represents a contingent right to receive one share of IKAN common stock.
- F31/6 of this grant will vest on October 29, 2015 and 1/12 every six months thereafter; and additional 1/6th of this grant will vest on October 30, 2015 and an additional 1/12 every six months thereafter. Vested shares will be delivered to the Reporting Person following each vest date.
- F4No expiration date.
- F5These stock options will vest over a one-year period, if at all, in two equal installments if the stock price of the Company's common stock during any 20 consecutive trading day period exceeds $0.82 and $1.23, respectively. Once vesting begins, these shares will vest in equal monthly installments over the one year period after the applicable stock price goal is achieved.
- F6These 600,000 stock options were originally granted to the Reporting Person on 06/11/2012. At the time of grant, the vesting schedule provided that the 600,000 shares would vest over a one-year period, if at all, in two equal installments if the stock price of the Company's common stock during any 20 consecutive trading day period exceeded $2.50 and $3.50, respectively, beginning upon the date(s) that certain stock price goals are achieved. Once vesting began, these shares would vest in equal quarterly installments over the one-year period after the applicable stock price goal is achieved. On 02/11/2015, the Company changed the stock price goals to $0.82 and $1.23, respectively, but made no other changes to the grant.
Remarks
This Form 4/A is filed to delete an erroneous entry on the Form 4 filed on 02/13/2015 that purported to show in Table I the acquisition by the Reporting Person of 600,000 shares of IKAN common stock. No other amendments were made. Consistent with the Form 4 filed on 02/13/2015, all amounts shown in this Form 4/A do not reflect the reverse stock split effected by the Company as of 02/13/2015.