SEC Form 4 · accession 0001209191-16-102262
Vistance Networks, Inc. · VISN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Frank M Drendel
Director
Period of report
Feb 23, 2016
Accepted (ET)
Feb 25, 2016 · 4:09 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001517228
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Feb 23, 2016 | A | 14,969 | $0.00 | A | 2,432,865 | D | |
| Common Stock | holding | — | — | — | 81,000 | I | By GRAT | |
| Common Stock | holding | — | — | — | 81,000 | I | By GRAT | |
| Common Stock | holding | — | — | — | 81,000 | I | By GRAT | |
| Common Stock | holding | — | — | — | 45,000 | I | By family trust | |
| Common Stock | holding | — | — | — | 335,955 | I | By marital trust |
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)F3 | $24.94 | Feb 23, 2016 | A | 31,033 | A | Feb 23, 2017 | Feb 23, 2026 | Common Stock | 31,033 | 31,033 | D |
Explanation of responses
- F1Reflects restricted stock units that vest in three equal installments on 02/23/2017, 02/23/2018 and 02/23/2019, subject to the reporting person's continued employment with the issuer.
- F2Includes 7,947 restricted stock units that were granted on 02/24/2015 and will vest ratably on 02/24/2017 and 02/24/2018, subject to the reporting person's continued employment with the issuer.
- F3The option vests in three equal installments on 02/23/2017, 02/23/2018 and 02/23/2019, subject to the reporting person's continued employment with the issuer.