SEC Form 4 · accession 0001209191-16-126557
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
Jun 7, 2016
Accepted (ET)
Jun 8, 2016 · 4:26 pm EDT
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 StockF2 | Jun 7, 2016 | M | 27,408 | $5.74 | A | 64,189 | D | |
| Common StockF2 | Jun 7, 2016 | M | 21,183 | $5.57 | A | 85,372 | D | |
| Common StockF3,F2 | Jun 7, 2016 | S | 48,591 | $32.1314 | D | 36,781 | D | |
| Common StockF2 | Jun 8, 2016 | M | 11,409 | $5.57 | A | 48,190 | D | |
| Common StockF4,F2 | Jun 8, 2016 | S | 11,409 | $32.1649 | D | 36,781 | D |
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) | $5.74 | Jun 7, 2016 | M | 27,408 | D | Feb 17, 2016 | Jan 26, 2021 | Common Stock | 27,408 | 22,443 | D |
| Stock Option (Right to Buy) | $5.57 | Jun 7, 2016 | M | 21,183 | D | Feb 17, 2016 | Feb 21, 2021 | Common Stock | 21,183 | 57,107 | D |
| Stock Option (Right to Buy) | $5.57 | Jun 8, 2016 | M | 11,409 | D | Feb 17, 2016 | Feb 21, 2016 | Common Stock | 11,409 | 45,698 | D |
Explanation of responses
- F1The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 5, 2016.
- F2As previously reported, includes (a) 16,038 restricted stock units that were granted on 02/23/2016 and will vest in three equal installments on 02/23/2017, 02/23/2018, and 02/23/2019; and (b) 7,225 restricted stock units that were granted on 02/24/2015 and will vest ratably on 02/24/2017 and 02/24/2018, each subject to the reporting person's continued employment with the issuer.
- F3The price shown is the weighted average price of the shares sold in this transaction. The price range for this transaction is $31.84 to $32.35. The reporting person undertakes to provide, upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price for this transaction.
- F4The price shown is the weighted average price of the shares sold in this transaction. The price range for this transaction is $32.04 to $32.39. The reporting person undertakes to provide, upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price for this transaction.