SEC Form 4 · accession 0001571049-16-013020
OTELCO INC. · OTEL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dennis Andrews
Officer — SVP & GM, AL &MO
Period of report
Mar 10, 2016
Accepted (ET)
Mar 14, 2016 · 6:22 pm 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 14, 2016 | M | 7,139 | — | A | 7,139 | D | |
| Class A Common Stock | Mar 14, 2016 | F | 2,692 | $5.10 | D | 4,447 | D | |
| Class A Common StockF2 | holding | — | — | — | 451 | I | By IRA |
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 10, 2016 | A | 12,410 | A | — | — | Class A Common Stock | 12,410 | 12,410 | D |
| Restricted Stock UnitsF1,F3 | — | Mar 14, 2016 | M | 4,136 | D | — | — | Class A Common Stock | 4,136 | 8,274 | D |
| Restricted Stock UnitsF1,F4 | — | Mar 14, 2016 | M | 3,003 | D | — | — | Class A Common Stock | 3,003 | 3,003 | 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 in the account of Carolyn Joan Andrews IRA, TD Ameritrade Inc. Custodian, 460 Rocky Ridge Road, Union Grove, Alabama 35175. Carolyn Joan Andrews is the wife of the reporting person.
- F3The RSUs vest in three installments: 4,136 RSUs vested on March 14, 2016; 4,137 RSUs vest on March 13, 2017; and 4,137 RSUs vest on March 13, 2018.
- F4The RSUs vest in three installments: 3,003 RSUs vested on March 13, 2015; 3,003 RSUs vested on March 14, 2016; and 3,003 RSUs vest on March 13, 2017.