SEC Form 4 · accession 0001628280-15-000368
IKANOS COMMUNICATIONS, INC. · IKAN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Debajyoti Pal
Officer — Sr. Vice President & CTO
Period of report
Jan 27, 2015
Accepted (ET)
Jan 29, 2015 · 4:28 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001219210
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jan 27, 2015 | M | 31,250 | $0.00 | A | 31,250 | D | |
| Common StockF1 | Jan 27, 2015 | F | 13,681 | $0.349 | D | 17,569 | D | |
| Common StockF2 | holding | — | — | — | 500,000 | I | By The Pal Trust. See Footnote |
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,F5 | — | Jan 27, 2015 | M | 31,250 | D | — | — | Common Stock | 31,250 | 31,250 | D |
Explanation of responses
- F1The transaction reported on this form represents the vesting of restricted stock units granted on June 9, 2014 and the withholding of shares to satisfy the tax withholding obligation associated with the vesting.
- F2The Pal Trust DTD 8/14/96 is the owner of these securities. The Reporting Person, as a trustee of the Pal Trust DTD 8/14/96, holds shared voting and dispositive power of the securities held by this trust. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of any pecuniary interest therein. The filing of this Form 4 shall not be deemed an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934, or otherwise, the Reporting Person is the beneficial owner of these securities.
- F3The restricted stock units are convertible on a one-for-one basis into Common Stock upon vesting.
- F450% of this grant vested on January 27, 2015, and the remaining 50% will vest on April 24, 2015, subject to continued service by the Reporting Person through each applicable vesting date. Vested shares will be delivered on the applicable vesting date.
- F5No expiration date.