SEC Form 4 · accession 0001127602-17-026653
Happen, Inc. · HAPN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sandeep Bhandari
Officer — Chief Credit Officer
Period of report
Aug 25, 2017
Accepted (ET)
Aug 29, 2017 · 5:39 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001409970
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Aug 25, 2017 | M | 17,901 | $0.00 | A | 80,093 | D | |
| Common StockF1 | Aug 25, 2017 | M | 5,734 | $0.00 | A | 85,827 | D | |
| Common StockF1 | Aug 26, 2017 | M | 6,676 | $0.00 | A | 92,503 | D | |
| Common StockF2,F3 | Aug 29, 2017 | S | 16,028 | $6.0692 | D | 76,475 | 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 Unit (RSU)F1,F4 | $0.00 | Aug 25, 2017 | M | 17,901 | D | — | Sep 26, 2026 | Common Stock | 17,901 | 214,812 | D |
| Restricted Stock Unit (RSU)F1,F5 | $0.00 | Aug 25, 2017 | M | 5,734 | D | — | Feb 24, 2027 | Common Stock | 5,734 | 80,276 | D |
| Restricted Stock Unit (RSU)F1,F6 | $0.00 | Aug 26, 2017 | M | 6,676 | D | — | Aug 26, 2025 | Common Stock | 6,676 | 53,411 | D |
Explanation of responses
- F1Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's common stock.
- F2Represents the number of shares required to be sold by the reporting person to cover tax withholding obligations in connection with the vesting of RSUs. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person.
- F3This transaction was executed in multiple trades during the day at prices ranging from $6.035 to $6.11. The weighted-average price is reported above. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
- F4The restricted stock units vested 6.25% of the total shares on November 25, 2016, with an additional 6.25% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.
- F5The restricted stock units are scheduled to vest 6.25% of the total shares on May 25, 2017, with an additional 6.25% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.
- F6The restricted stock units vested as to 25% of the total shares on August 26, 2016, with an additional 6.25% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.