SEC Form 4 · accession 0000023197-16-000077
COMTECH TELECOMMUNICATIONS CORP /DE/ · CMTL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Fred Kornberg
Officer — Chairman, CEO & President · Director
Period of report
Oct 5, 2016
Accepted (ET)
Oct 7, 2016 · 7:12 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000023197
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock Par Value $0.10 Per ShareF1,F2 | Oct 5, 2016 | A | 17,827 | — | A | 485,181 | D | |
| Common Stock Par Value $0.10 Per Share | Oct 5, 2016 | F | 6,591 | $12.63 | D | 478,590 | D | |
| Common Stock Par Value $0.10 Per ShareF2 | Oct 5, 2016 | M | 2,156 | — | A | 480,746 | D | |
| Common Stock Par Value $0.10 Per Share | Oct 5, 2016 | F | 798 | $12.63 | D | 479,948 | D | |
| Common Stock Par Value $0.10 Per ShareF5,F2 | Oct 5, 2016 | M | 2,487 | — | A | 482,435 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance SharesF2,F3 | — | Oct 5, 2016 | M | 2,156 | D | — | — | Common Stock Par Value $0.10 Per Share | 2,156 | 9,287 | D |
| Performance SharesF2,F4 | — | Oct 5, 2016 | M | 2,487 | D | — | — | Common Stock Par Value $0.10 Per Share | 2,487 | 6,800 | D |
Explanation of responses
- F1These shares represent common stock of Comtech Telecommunications Corp. issued on October 5, 2016 as a result of the settlement of a Long Term Performance Share Award granted on October 2, 2013 in connection with the achievement of pre-established goals over the three-year performance period ended July 31, 2016.
- F2Performance shares convert into common stock on a one-for-one basis.
- F320% of the 10,781 performance shares issued to the reporting person on June 5, 2013 have vested.
- F420% of the 12,435 performance shares issued to the Reporting Person on June 6, 2012 have vested.
- F5Pursuant to the election made by the reporting person, all rights to the common stock have been deferred and will be delivered to the reporting person within 30 days of termination.