SEC Form 4 · accession 0001144204-18-014780
OTELCO INC. · OTEL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Curtis Lee Garner Jr.
Officer — Chief Financial Officer · Director
Period of report
Mar 13, 2018
Accepted (ET)
Mar 15, 2018 · 6:10 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001288359
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common StockF1 | Mar 13, 2018 | M | 12,043 | — | A | 36,188 | D | |
| Class A Common Stock | Mar 13, 2018 | F | 4,540 | $14.90 | D | 31,648 | D | |
| Class A Common StockF2 | holding | — | — | — | 164 | I | As UGMA custodian for granddaughter | |
| Class A Common StockF2 | holding | — | — | — | 164 | I | As UGMA custodian for granddaughter |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F3 | — | Mar 13, 2018 | M | 5,645 | D | — | — | Class A Common Stock | 5,645 | 5,646 | D |
| Restricted Stock UnitsF1,F4 | — | Mar 13, 2018 | M | 6,398 | D | — | — | Class A Common Stock | 6,398 | 0 | D |
Explanation of responses
- F1Each restricted stock unit ("RSU") represents a right to receive one share of Otelco Inc. Class A Common Stock.
- F2These securities are held by Uniform Gifts to Minors Act accounts for the benefit of the reporting person's granddaughters. The reporting person is custodian of such accounts. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these securities for Section 16 or for any other purpose.
- F3The RSUs vest in three installments: 5,645 RSUs vested on March 13, 2017; 5,645 RSUs vested on March 13, 2018; and 5,646 RSUs vest on March 12, 2019.
- F4The RSUs vested in three installments: 6,398 RSUs vested on March 14, 2016; 6,398 RSUs vested on March 13, 2017; and 6,398 RSUs vested on March 13, 2018.