SEC Form 4 · accession 0001571049-16-013023
OTELCO INC. · OTEL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert J. Souza
Officer — President & CEO · Director
Period of report
Mar 10, 2016
Accepted (ET)
Mar 14, 2016 · 6:24 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 | 18,663 | — | A | 24,086 | D | |
| Class A Common Stock | Mar 14, 2016 | F | 7,036 | $5.10 | D | 17,050 | D |
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,F2 | — | Mar 10, 2016 | A | 39,718 | A | — | — | Class A Common Stock | 39,718 | 39,718 | D |
| Restricted Stock UnitsF1,F2 | — | Mar 14, 2016 | M | 13,240 | D | — | — | Class A Common Stock | 13,240 | 26,478 | D |
| Restricted Stock UnitsF1,F3 | — | Mar 14, 2016 | M | 5,423 | D | — | — | Class A Common Stock | 5,423 | 5,423 | D |
Explanation of responses
- F1Each restricted stock unit ("RSU") represents a right to receive one share of Otelco Inc. Class A Common Stock.
- F2The RSUs vest in three installments: 13,240 RSUs vested on March 14, 2016; 13,239 RSUs vest on March 13, 2017; and 13,239 RSUs vest on March 13, 2018.
- F3The RSUs vest in three installments: 5,423 RSUs vested on March 13, 2015; 5,423 RSUs vested on March 14, 2016; and 5,423 RSUs vest on March 13, 2017.