SEC Form 4 · accession 0001437749-15-019235
TWITTER, INC. · TWTR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Omid Kordestani
Officer — Executive Chairman · Director
Period of report
Oct 29, 2015
Accepted (ET)
Oct 30, 2015 · 9:00 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001418091
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Oct 29, 2015 | A | 400,000 | $0.00 | A | 400,000 | 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 | $29.06 | Oct 29, 2015 | A | 800,000 | A | — | Oct 29, 2029 | Common Stock | 800,000 | 800,000 | D |
Explanation of responses
- F1The reported shares are represented by restricted stock units (RSUs) which will vest upon the satisfaction of both a performance condition and a service condition. The performance periods will be each of the next four fiscal years of the Issuer beginning with the Issuer's 2016 fiscal year. The Issuer's Board of Directors or its authorized committee will set the performance targets for each performance period in advance of the end of the applicable performance period, and, in the first quarter following each completed fiscal year, determine achievement against those performance targets.
- F2The option grant is subject to a four-year vesting schedule, vesting 25% on 11/1/16 and the balance will vest quarterly over the following twelve quarters.