SEC Form 4 · accession 0001209191-17-026621
BOX INC · BOX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dylan C Smith
Officer — Chief Financial Officer · Director · 10% Owner
Period of report
Apr 9, 2017
Accepted (ET)
Apr 11, 2017 · 9:27 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001372612
Table I — non-derivative securities
No Table I lines on this filing.
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)F1 | $16.68 | Apr 9, 2017 | A | 225,000 | A | — | Apr 9, 2027 | Class A Common Stock | 225,000 | 225,000 | D |
| Performance-based Employee Stock Option (right to buy)F2 | $16.68 | Apr 9, 2017 | A | 225,000 | A | — | Apr 9, 2027 | Class A Common Stock | 225,000 | 225,000 | D |
Explanation of responses
- F11/4 of the shares subject to the option vest on March 20, 2018, and 1/48 of the shares vest monthly thereafter, subject to the Reporting Person's continued service through each vesting date.
- F21/4 of the shares subject to the option vest on March 20, 2018, and 1/48 of the shares vest monthly thereafter, subject to both (a) continued service to Box through each applicable vesting date, and (b) the closing stock price of the Company's Class A stock must have maintained a level that is 25% higher than the options' exercise price (rounded down to the nearest whole penny) for a period of 30 consecutive trading days. If the performance condition in clause (b) is not met prior to the fourth anniversary of the grant date, no options will vest and all will be forfeited. The performance condition in clause (b) need only be met one time prior to the fourth anniversary of the grant date in order for it to be satisfied.