SEC Form 4 · accession 0001563699-15-000026
Covisint Corp · COVS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
III Samuel M. Inman
Officer — President and CEO · Director
Period of report
Jul 1, 2015
Accepted (ET)
Jul 1, 2015 · 5:00 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001563699
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common stock | Jul 1, 2015 | M | 60,731 | $3.27 | A | 60,731 | D | |
| Common stock | Jul 1, 2015 | F | 19,191 | $3.27 | D | 41,540 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitF2,F3 | — | Jul 1, 2015 | M | 60,731 | D | Jul 1, 2015 | — | Common stock | 60,731 | 121,462 | D |
Explanation of responses
- F1Shares withheld by the issuer to satisfy the mandatory tax withholding requirement upon veseting of restricted stock units. This in not an open market sale of securities.
- F2Each restricted stock unit represents the contingent right to receive one share of common stock upon vesting of the unit.
- F333.33% of the restricted stock units vested on July 1, 2015, 33.33% of the restricted stock units are schedule to vest on July 1, 2016, and the remaining 33.34% of the restricted stock units are scheduled to vest on July 1, 2017, assuming continued employment through the applicable vesting date.