SEC Form 4 · accession 0001571049-17-002353
OTELCO INC. · OTEL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jerry C Boles
Officer — SVP and Controller
Period of report
Mar 9, 2017
Accepted (ET)
Mar 13, 2017 · 5:14 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 13, 2017 | M | 7,901 | — | A | 13,050 | D | |
| Class A Common Stock | Mar 13, 2017 | F | 2,979 | $6.25 | D | 10,071 | 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 9, 2017 | A | 8,355 | A | — | — | Class A Common Stock | 8,355 | 8,355 | D |
| Restricted Stock UnitsF1,F2 | — | Mar 13, 2017 | M | 2,785 | D | — | — | Class A Common Stock | 2,785 | 5,570 | D |
| Restricted Stock UnitsF1,F3 | — | Mar 13, 2017 | M | 3,156 | D | — | — | Class A Common Stock | 3,156 | 3,156 | D |
| Restricted Stock UnitsF1,F4 | — | Mar 13, 2017 | M | 1,960 | D | — | — | Class A Common Stock | 1,960 | 0 | 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: 2,785 RSUs vested on March 13, 2017; 2,785 RSUs vest on March 13, 2018; and 2,785 RSUs vest on March 12, 2019.
- F3The RSUs vest in three installments: 3,156 RSUs vested on March 14, 2016; 3,156 RSUs vested on March 13, 2017; and 3,156 RSUs vest on March 13, 2018.
- F4The RSUs vested in three installments: 1,961 RSUs vested on March 13, 2015; 1,961 RSUs vested on March 14, 2016; and 1,960 RSUs vested on March 13, 2017.