SEC Form 4 · accession 0001209191-18-028878
Vistance Networks, Inc. · VISN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Frank M Drendel
Director
Period of report
May 8, 2018
Accepted (ET)
May 9, 2018 · 4:35 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 StockF1 | May 8, 2018 | M | 50,000 | $8.55 | A | 2,216,834 | D | |
| Common Stock | holding | — | — | — | 28,350 | I | By GRAT | |
| Common Stock | holding | — | — | — | 28,350 | I | By GRAT | |
| Common Stock | holding | — | — | — | 28,350 | I | By GRAT | |
| Common Stock | holding | — | — | — | 15,750 | I | By Family Trust | |
| Common Stock | holding | — | — | — | 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) | $8.55 | May 8, 2018 | M | 50,000 | D | Jan 14, 2011 | Jan 20, 2020 | Common Stock | 50,000 | 510,811 | D |
Explanation of responses
- F1As 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.