SEC Form 4 · accession 0001209191-15-054509
Vistance Networks, Inc. · VISN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joanne Townsend
Officer — SVP for CommScope, Inc.
Period of report
Jun 16, 2015
Accepted (ET)
Jun 18, 2015 · 8:43 am EDT
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 | Jun 16, 2015 | A | 19,982 | A | Jun 16, 2015 | Nov 13, 2022 | Common Stock | 19,982 | 132,486 | D |
Explanation of responses
- F1On November 13, 2012, 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, 2012, 2013, 2014, 2015, and 2016. These performance-based options are also eligible to vest in connection with a "Liquidity Event" involving the Company, based on the return on investment to the Company's principal stockholder. On June 16, 2015, the Liquidity Event occurred, resulting in vesting of the option as to a total of 19,982 shares (9,991 shares relating to 2015 and 9,991 shares relating to 2016).