SEC Form 4/A · accession 0000023197-17-000039
COMTECH TELECOMMUNICATIONS CORP /DE/ · CMTL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
This is an amendment (Form 4/A). It replaces an earlier filing for the same period.
Reporting owner
Michael Galletti
Officer — Chief Operating Officer
Period of report
Jul 31, 2017
Accepted (ET)
Aug 11, 2017 · 4:43 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 $.10 per shareF1 | Jul 31, 2017 | M | 441 | — | A | 13,258 | D | |
| Common stock par value $.10 per shareF1 | Jul 31, 2017 | F | 441 | $18.00 | D | 12,817 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Share UnitF1,F2 | — | Jul 31, 2017 | A | 12,267 | A | — | — | Common stock par value $.10 per share | 12,267 | 12,267 | D |
| Share UnitF1,F2 | — | Jul 31, 2017 | M | 441 | D | — | — | Common stock par value $.10 per share | 441 | 11,826 | D |
Explanation of responses
- F1These transactions represent the net settlement of share units (see footnote #2) to withhold the reporting person's Federal Insurance Contributions Act ("FICA") tax and certain federal and state income taxes. These shares represent an amendment of the Form 4 filed on August 2, 2017 which inadvertently showed a grant of 17,823 share units instead of the grant of 12,267 which occurred on July 31, 2017. The related net settlement should have been reported as 441 share units instead of 641.
- F2Share units are rights to convert solely into Comtech Telecommunications Corp. common stock on a one-for-one basis. The share units were issued in lieu of cash settlements based on the achievement of pre-established non-equity incentive goals for the fiscal year ending July 31, 2017, pursuant to the 2000 Stock Incentive Plan. These share units are fully vested, are subject to certain transfer restrictions, cannot be assigned, and will be converted into Comtech Telecommunications Corp. common stock following the one-year anniversary of the grant date which will occur on July 31, 2018.