SEC Form 4 · accession 0001730168-18-000047
Broadcom Inc. · AVGO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas H. Krause
Officer — Chief Financial Officer
Period of report
Nov 15, 2018
Accepted (ET)
Nov 19, 2018 · 6:16 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001730168
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, $0.001 par valueF1,F2,F3 | Nov 15, 2018 | M | 2,500 | $0.00 | A | 69,562 | D | |
| Common Stock, $0.001 par valueF4,F3 | Nov 15, 2018 | F | 2,480 | $236.34 | D | 67,082 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Based Restricted Stock UnitsF1 | $0.00 | Nov 15, 2018 | M | 2,500 | D | — | Nov 15, 2020 | Common Stock, $0.001 par value | 2,500 | 5,000 | D |
Explanation of responses
- F1Shares vested pursuant to a share price performance restricted share unit award (the "Performance RSU") granted pursuant to the Avago Technologies Limited 2009 Equity Incentive Award Plan on November 15, 2016. The Performance RSU is scheduled to vest over four years, with 25% vesting on each anniversary of the date of grant, such that the Performance RSU will be fully vested on November 15, 2020; provided, however, that no portion of the Performance RSU may vest unless the average of the closing prices of the Issuer's shares (as reported on the stock exchange on which the shares are listed), over a twenty consecutive trading day period is equal to or greater than 120% of the fair market value of the Issuer's shares on the date of grant (the "Price Contingency"). On February 13, 2017, the Price Contingency was met, and on November 15, 2018, the second 25% of the Performance RSU vested.
- F2Each Performance RSU represents the right to receive, at settlement, one share of common stock of the Issuer. This transaction represents the settlement of the Performance RSU in the Issuer's shares of common stock on the scheduled vesting date.
- F3Includes 38,625 Restricted Stock Units ("RSUs").
- F4Consists of shares of common stock withheld by the Issuer to satisfy the tax withholding obligations of the Reporting Person upon the vesting of the Performance RSU and the relevant RSUs previously granted to the Reporting Person.