SEC Form 4 · accession 0001377789-15-000025
AVIAT NETWORKS, INC. · AVNW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Heinz Stumpe
Officer — SVP & Chief Sales Officer
Period of report
Feb 2, 2015
Accepted (ET)
Feb 4, 2015 · 2:55 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001377789
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 2, 2015 | A | 67,381 | $0.00 | A | 184,361 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (right to buy)F2 | $1.30 | Feb 2, 2015 | A | 115,000 | A | — | Feb 2, 2022 | Common Stock | 115,000 | 115,000 | D |
Explanation of responses
- F1Performance share units, which are subject to vesting. Vesting requires both (a) continuing employment with the Corporation, and (b) achievement of at least the minimum performance result for the one-year period set forth in the Specific Terms and Conditions. 1/3 will vest on confirmation of performance metrics achievement expected in August 2015, with 1/3 vesting on February 2, 2016 and 1/3 vesting on February 2, 2017. All shares will cancel if the original performance metrics are not achieved. Unvested performance share units are subject to cancelation by the Corporation at $0.01 per share if eligible employment ends or, following the determination of actual Corporation performance versus metrics, to the extent such performance share units do not vest.
- F2Stock options to purchase shares become exercisable if employment with the Corporation continues through the vesting dates. The options will vest as follows: 25% on August 1, 2015 and 2.08% monthly thereafter.