SEC Form 4 · accession 0001209191-18-021374

Vistance Networks, Inc. · VISN

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Frank M Drendel

Director

Period of report

Mar 21, 2018

Accepted (ET)

Mar 23, 2018 · 4:05 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 Stock^F2	Mar 21, 2018	M	28,983	$2.96	A	2,225,817	D
Common Stock^F3,F2	Mar 21, 2018	S	58,983	$40.2171	D	2,166,834	D
Common Stock^F4	Mar 21, 2018	S	4,050	$40.2233	D	28,350	I	By GRAT
Common Stock^F5	Mar 21, 2018	S	4,050	$40.219	D	28,350	I	By GRAT
Common Stock^F5	Mar 21, 2018	S	4,050	$40.222	D	28,350	I	By GRAT
Common Stock^F5	Mar 21, 2018	S	2,250	$40.2146	D	15,750	I	By Family Trust
Common Stock^F6	Mar 21, 2018	S	16,803	$40.2269	D	117,580	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)	$2.96	Mar 21, 2018	M	28,983	D	Jan 14, 2011	Mar 24, 2019	Common Stock	28,983	280,143	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 February 20, 2018.
F2As previously reported, includes (a) 4,990 restricted stock units that were granted on 02/23/2016 and will vest on 02/23/2019; (b) 8,653 performance share units that were earned on 02/23/2017 and will vest on 02/23/2019; (c) 6,555 restricted stock units that were granted on 02/27/2017 and will vest ratably on 02/27/2019 and 02/27/2020; and (d) 9,737 restricted stock units that were granted on 03/01/2018 and will vest in three equal installments on 03/01/2019, 03/01/2020 and 03/01/2021, 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 $40.11 to $40.40. 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 $40.13 to $40.34. 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.
F5The price shown is the weighted average prices of the shares sold in this transaction. The price range for this transaction is $40.14 to $40.33. 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.
F6The price shown is the weighted average price of the shares sold in this transaction. The price range for this transaction is $40.12 to $40.40. 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.