SEC Form 4 · accession 0001209191-15-016684
Vistance Networks, Inc. · VISN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark A Olson
Officer — EVP and CFO
Period of report
Feb 18, 2015
Accepted (ET)
Feb 20, 2015 · 4:16 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001517228
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F1 | $5.57 | Feb 18, 2015 | A | 19,881 | A | Feb 18, 2015 | Feb 21, 2021 | Common Stock | 19,881 | 137,406 | D |
| Stock Option (Right to Buy)F1 | $5.57 | Feb 18, 2015 | A | 1,749 | A | Feb 18, 2015 | Feb 21, 2021 | Common Stock | 1,749 | 139,155 | D |
| Stock Option (Right to Buy)F2 | $5.74 | Feb 18, 2015 | A | 16,563 | A | Feb 18, 2015 | Jan 26, 2021 | Common Stock | 16,563 | 79,207 | D |
| Stock Option (Right to Buy)F2 | $5.74 | Feb 18, 2015 | A | 22,443 | A | Feb 18, 2015 | Jan 26, 2021 | Common Stock | 22,443 | 101,650 | D |
Explanation of responses
- F1On February 21, 2012, the reporting person was granted an option to purchase 79,518 shares of common stock, which vests in four equal annual installments based on the Company's satisfaction of certain performance criteria for each of the fiscal years ending December 31, 2012, 2013, 2014 and 2015. The performance criteria for 2014 were exceeded, resulting in vesting of the option as to a total of 21,630 shares (19,881 shares relating to 2014 and, due to the application of the option's catch-up vesting provision, 1,749 shares relating to 2012).
- F2On January 26, 2011, the reporting person was granted an option to purchase 82,815 shares of common stock, which vests in five equal annual installments based on the Company's satisfaction of certain performance criteria for each of the fiscal years ending December 31, 2011, 2012, 2013, 2014 and 2015. The performance criteria for 2014 were exceeded, resulting in vesting of the option as to a total of 39,006 shares (16,563 shares relating to 2014 and, due to the application of the option's catch-up vesting provision, 16,563 shares relating to 2011 and 5,880 shares relating to 2012).