SEC Form 4 · accession 0001219210-15-000062
IKANOS COMMUNICATIONS, INC. · IKAN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Omid Tahernia
Officer — CEO and President · Director
Period of report
Mar 7, 2015
Accepted (ET)
Mar 10, 2015 · 5:17 pm EDT
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,F2 | $4.10 | Mar 7, 2015 | D | 42,488 | D | — | Feb 11, 2020 | Common Stock | 42,488 | 0 | D |
| Stock Option (right to buy)F2 | $4.10 | Mar 7, 2015 | A | 42,488 | A | — | Feb 11, 2020 | Common Stock | 42,488 | 42,488 | D |
| Stock Option (right to buy)F1,F3 | $8.90 | Mar 7, 2015 | D | 60,000 | D | — | Jun 11, 2019 | Common Stock | 60,000 | 0 | D |
| Stock Option (right to buy)F3 | $8.90 | Mar 7, 2015 | A | 60,000 | A | — | Jun 11, 2019 | Common Stock | 60,000 | 60,000 | D |
| Stock Option (right to buy)F4 | $4.10 | Mar 7, 2015 | D | 115,000 | D | — | Feb 17, 2020 | Common Stock | 115,000 | 0 | D |
| Stock Option (right to buy)F4 | $4.10 | Mar 7, 2015 | A | 115,000 | A | — | Feb 17, 2020 | Common Stock | 115,000 | 115,000 | D |
Explanation of responses
- F1Reflects the reverse stock split that occurred on February 13, 2015.
- F2These 42,488 stock options were originally granted to the Reporting Person on 02/11/2015. On 03/07/2015, the Company modified the grant such that in the event of a change-of-control transaction or other qualified termination of employment, as defined in the Reporting Person's pre-existing agreement with the Company, these options would partially vest provided that the price of our common stock at the time of the change-of-control transaction or other qualified termination of employment was at least $5.74. The portion of the option that will partially vest is determined by a ratio of (x) the excess of the deal price over the exercise price, to (y) the excess of the applicable stock price target over the exercise price, multiplied by the number of shares subject to that tranche.
- F3These 60,000 stock options were originally granted to the Reporting Person on 06/11/2012, and the stock price goals were subsequently amended on 02/11/2015. On 03/07/2015, the Company modified the grant such that in the event of a change-of-control transaction or other qualified termination of employment, as defined in the Reporting Person's pre-existing agreement with the Company, these options would partially vest provided that the price of our common stock at the time of the change-of-control transaction or other qualified termination of employment was at least $5.74. The portion of the option that will partially vest is determined by a ratio of (x) the excess of the deal price over the exercise price, to (y) the excess of the applicable stock price target over the exercise price, multiplied by the number of shares subject to that tranche.
- F4These 115,000 stock options were originally granted to the Reporting Person on 02/17/2015. On 03/07/2015, the Company modified the grant such that in the event of a change-of-control transaction or other qualified termination of employment, as defined in the Reporting Person's pre-existing agreement with the Company, these options would partially vest provided that the price of our common stock at the time of the change-of-control transaction or other qualified termination of employment was at least $5.74. The portion of the option that will partially vest is determined by a ratio of (x) the excess of the deal price over the exercise price, to (y) the excess of the applicable stock price target over the exercise price, multiplied by the number of shares subject to that tranche.