SEC Form 4 · accession 0001209191-17-021775
Vistance Networks, Inc. · VISN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Marvin S Edwards Jr.
Officer — President and CEO · Director
Period of report
Mar 16, 2017
Accepted (ET)
Mar 20, 2017 · 5:16 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 | Mar 16, 2017 | M | 3,800 | $5.74 | A | 280,834 | D | |
| Common StockF3,F2 | Mar 16, 2017 | S | 3,800 | $40.0309 | D | 277,034 | D | |
| Common StockF2 | Mar 20, 2017 | M | 96,200 | $5.74 | A | 373,234 | D | |
| Common StockF4,F2 | Mar 20, 2017 | S | 96,200 | $40.0441 | D | 277,034 | 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 | Mar 16, 2017 | M | 3,800 | D | Feb 17, 2016 | Jan 26, 2021 | Common Stock | 3,800 | 1,515,233 | D |
| Stock Option (Right to Buy) | $5.74 | Mar 20, 2017 | M | 96,200 | D | Feb 17, 2016 | Jan 26, 2021 | Common Stock | 96,200 | 1,419,033 | 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 November 15, 2016.
- F2As previously reported, includes (a) 35,641 restricted stock units that were granted on 02/23/2016 and will vest ratably on 02/23/2018 and 02/23/2019; (b) 13,510 restricted stock units that were granted on 02/24/2015 and will vest on 02/24/2018; (c) 61,801 performance share units that were earned on 02/23/2017 and will vest ratably on 02/23/2018 and 02/23/2019; (d) 15,827 performance share units that were earned on 02/24/2017 and will vest on 02/24/2018; and (e) 61,452 restricted stock units that were granted on 02/27/2017 and will vest in three equal installments on 02/27/2018, 02/27/2019 and 02/27/2020; 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 $40.01 to $40.11. 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 $40.00 to $40.18. 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.