SEC Form 4 · accession 0001209191-18-044234
Mellanox Technologies, Ltd. · MLNX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steve Sanghi
Director
Period of report
Jul 25, 2018
Accepted (ET)
Jul 27, 2018 · 4:50 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001356104
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Ordinary SharesF1,F2,F3,F4 | Jul 25, 2018 | A | 4,200 | $0.00 | A | 5,950 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Restricted Share Units ("RSU's"). The Reporting Person is entitled to receive one (1) ordinary share for each one (1) RSU upon vesting.
- F2The RSU's shall vest in equal monthly installments over a one year period beginning on August 1, 2018 and will be 100% vested on July 1, 2019 provided the director continues to serve as a non-employee director.
- F3Includes 4,200 unvested Restricted Share Units (RSU's). Upon vesting thereof, the Reporting Person is entitled to receive one (1) Ordinary Share for each one (1) RSU.
- F4Reflects forfeiture of 2,450 unvested RSU's out of the 4,200 RSU's granted on February 28, 2018, following the reporting person's appointment to the Board. Under Israeli law, the reporting person was only entitled to compensation with respect to his service as a director through the first general meeting of shareholders following his appointment, which was the Company's extraordinary general meeting that occurred on May 24, 2018. As a result, potentially 3,150 shares would have forfeited except that, at the Company's annual general meeting of shareholders held on July 25, 2018, the Company's shareholders approved that 700 of the unvested RSU's would vest, as compensation for the reporting person's services as a director during the period beginning on May 25, 2018 through the date prior to the annual general meeting of shareholders, and the remaining 2,450 unvested RSU's would be forfeited.