SEC Form 4 · accession 0001209191-16-117960
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 | May 3, 2016 | M | 1,579 | $0.00 | A | 1,579 | D | |
| Common StockF2 | May 3, 2016 | M | 625 | $0.00 | A | 2,204 | D | |
| Common StockF3 | May 3, 2016 | M | 2,880 | $0.00 | A | 5,084 | D | |
| Common StockF4 | May 3, 2016 | M | 1,250 | $0.00 | A | 6,334 | D | |
| Common StockF5 | May 3, 2016 | M | 6,166 | $0.00 | A | 12,500 | D | |
| Common Stock | holding | — | — | — | 168,265 | I | By the Schneider 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,F6 | $0.00 | May 3, 2016 | M | 1,579 | D | — | — | Common Stock | 1,579 | 6,316 | D |
| Restricted Stock Units (RSUs)F2,F7 | $0.00 | May 3, 2016 | M | 625 | D | — | — | Common Stock | 625 | 5,000 | D |
| Restricted Stock Units (RSUs)F3,F8 | $0.00 | May 3, 2016 | M | 2,880 | D | — | — | Common Stock | 2,880 | 8,640 | D |
| Restricted Stock Units (RSUs)F4,F9 | $0.00 | May 3, 2016 | M | 1,250 | D | — | — | Common Stock | 1,250 | 7,500 | D |
| Restricted Stock Units (RSUs)F5,F10 | $0.00 | May 3, 2016 | M | 6,166 | D | — | — | Common Stock | 6,166 | 12,332 | D |
Explanation of responses
- F11,579 Restricted Stock Units ("RSUs") issued in the grant to Mr. Schneider on 8/1/2013 vested on 5/1/2016 according to the vesting schedule previously reported.
- F10The RSUs vest in four quarterly installments beginning on February 1, 2016 and ending on November 1, 2016, as previously reported.
- F2625 RSUs issued in the grant to Mr. Schneider on 2/10/2014 vested on 5/1/2016 according to the vesting schedule previously reported.
- F32,880 RSUs issued in the grant to Mr. Schneider on 3/26/2015 vested on 5/1/2016 according to the vesting schedule previously reported.
- F41,250 RSUs issued in the grant to Mr. Schneider on 11/19/2015 vested on 5/1/2016 according to the vesting schedule previously reported.
- F56,166 RSUs issued in the grant to Mr. Schneider on 1/5/2016 vested on 5/1/2016 according to the vesting schedule previously reported.
- F6The 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.
- F7The 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, as previously reported.
- F8The RSUs vest as follows: 25% vested on May 1, 2016. The remaining 75% vest in twelve quarterly installments thereafter, beginning on August 1, 2016 and ending on May 1, 2019, as previously reported.
- F9The RSUs vest in eight quarterly installments beginning on February 1, 2016 and ending on November 1, 2017, as previously reported.
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 May 1, 2016, 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 May 1, 2016 were not issued until May 3, 2016, as reported in this Form 4.