SEC Form 4 · accession 0001209191-15-078567
GigPeak, Inc. · GIG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Nov 2, 2015 | M | 1,307 | $0.00 | A | 51,712 | D | |
| Common StockF2 | Nov 2, 2015 | M | 625 | $0.00 | A | 52,337 | D | |
| Common StockF3 | Nov 2, 2015 | M | 14,666 | $0.00 | A | 67,003 | D | |
| Common Stock | holding | — | — | — | 82,525 | I | By the Joseph and Nancy Lazzara Family Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock Units (RSUs)F1,F4 | $0.00 | Nov 2, 2015 | M | 1,307 | D | — | — | Common Stock | 1,307 | 7,841 | D |
| Restricted Stock Units (RSUs)F2,F5 | $0.00 | Nov 2, 2015 | M | 625 | D | — | — | Common Stock | 625 | 6,250 | D |
| Restricted Stock Units (RSUs)F3,F6 | $0.00 | Nov 2, 2015 | M | 14,666 | D | — | — | Common Stock | 14,666 | 0 | D |
Explanation of responses
- F11,307 Restricted Stock Units ("RSUs") issued in the grant to Mr. Lazzara on 8/1/2013 vested on 11/1/2015 according to the vesting schedule previously reported.
- F2625 RSUs issued in the grant to Mr. Lazzara on 2/10/2014 vested on 11/1/2015 according to the vesting schedule previously reported.
- F314,666 RSUs issued in the grant to Mr. Lazzara on 3/26/2015 vested on 11/1/2015 according to the vesting schedule previously reported.
- F4The RSUs vest as follows: 25% vested on May 1, 2014. The remaining 75% vest in twelve quarterly installments thereafter, beginning on August 1, 2014 and ending on May 1, 2017, as previously reported.
- F5The RSUs vest as follows: 25% vested on May 1, 2015. The remaining 75% vest in twelve quarterly installments thereafter, beginning on August 1, 2015 and ending on May 1, 2018.
- F6The RSUs vest in three quarterly installments beginning on May 1, 2015 and ending on November 1, 2015.
Remarks
As the Company's non-employee directors are not Company employees, the Company does not have a tax withholding obligation at the time of vesting, and the individual non-employee director will be responsible for any tax obligations which arises in connection with such vesting. The vesting date of the RSUs was November 1, 2015, as previously reported by the Issuer, which fell on a Sunday this year. Normally the shares will issue on the same date as the vesting date, as reported in the previously filed Form 4s for vesting of RSUs. However, when the vesting date falls on a weekend or federal holiday, due to the normal processing required by the Issuer's transfer agent, it can take up to two business days after the first business day following the vesting date for the resulting shares to be issued. Therefore the shares resulting from the vesting on November 1, 2015 were not issued until November 2, 2015, as reported in this Form 4.