SEC Form 4 · accession 0000310568-16-000383
MICROSEMI CORP · MSCC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James J Peterson
Officer — Chairman of the Board & CEO · Director
Period of report
Jul 26, 2016
Accepted (ET)
Jul 28, 2016 · 5:59 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000310568
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance RightsF1 | — | Jul 26, 2016 | A | 1,000,000 | A | — | Jul 26, 2021 | Microsemi Common Stock | 1,000,000 | 1,000,000 | D |
Explanation of responses
- F1Each Performance Right represents a contingent right to receive one share of Microsemi Common Stock. The performance rights are scheduled to vest (a) 25% upon Microsemi's common stock (plus amount of any dividends paid per share) achieving a market price of not less than $50.00 per share for a period of at least twenty consecutive trading days, (b) 50% upon Microsemi's common stock (plus amount of any dividends paid per share) achieving a market price of not less than $60.00 per share for a period of at least twenty consecutive trading days, and (c) 25% upon Microsemi's common stock (plus amount of any dividends paid per share) achieving a market price of not less than $70.00 per share for a period of at least twenty consecutive trading days.