SEC Form 4 · accession 0001348334-17-000072
BARRACUDA NETWORKS INC · CUDA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael D Hughes
Officer — SVP, Worldwide Sales
Period of report
May 31, 2017
Accepted (ET)
Jun 2, 2017 · 8:49 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001348334
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 31, 2017 | A | 60,000 | $0.00 | A | 163,875 | D | |
| Common Stock | Jun 1, 2017 | M | 4,468 | $10.62 | A | 168,343 | D | |
| Common StockF3 | Jun 1, 2017 | S | 4,468 | $22.55 | D | 163,875 | D | |
| Common StockF4 | Jun 1, 2017 | F | 6,342 | $22.79 | D | 157,533 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F5 | $10.62 | Jun 1, 2017 | M | 4,468 | D | Jul 21, 2011 | Jul 21, 2020 | Common Stock | 4,468 | 0 | D |
Explanation of responses
- F1The reported securities are represented by restricted stock units which vest in four equal annual installments beginning on June 1, 2018.
- F2The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 12, 2016.
- F3The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.01 to $22.79, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.
- F4The reported shares were withheld to cover the Reporting Person's tax liability in connection with the vesting of restricted stock units.
- F525% of shares subject to the option vested on July 21, 2011 and 1/48 of the shares subject to the option vested monthly thereafter, so that all shares were fully vested on 07/21/2014.