SEC Form 4 · accession 0000023197-16-000078
COMTECH TELECOMMUNICATIONS CORP /DE/ · CMTL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Porcelain
Officer — Sr. Vice President & CFO
Period of report
Oct 5, 2016
Accepted (ET)
Oct 7, 2016 · 7:16 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 | 6,185 | — | A | 85,758 | D | |
| Common Stock Par Value $0.10 Per Share | Oct 5, 2016 | F | 2,287 | $12.63 | D | 83,471 | D | |
| Common Stock Par Value $0.10 Per ShareF2 | Oct 5, 2016 | M | 899 | — | A | 84,370 | D | |
| Common Stock Par Value $0.10 Per Share | Oct 5, 2016 | F | 333 | $12.63 | D | 84,037 | D | |
| Common Stock Par Value $0.10 Per ShareF2 | Oct 5, 2016 | M | 995 | — | A | 85,032 | D | |
| Common Stock Par Value $0.10 Per Share | Oct 5, 2016 | F | 368 | $12.63 | D | 84,664 | 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 | 899 | D | — | — | Common Stock Par Value $0.10 Per Share | 899 | 3,787 | D |
| Performance SharesF2,F4 | — | Oct 5, 2016 | M | 995 | D | — | — | Common Stock Par Value $0.10 Per Share | 995 | 2,792 | 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 4,492 performance shares issued to the reporting person on June 5, 2013 have vested.
- F420% of the 4,974 performance shares issued to the reporting person on June 6, 2012 have vested.