SEC Form 4 · accession 0000310568-16-000429
MICROSEMI CORP · MSCC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steven G Litchfield
Officer — EVP & Chief Strategy Officer
Period of report
Oct 10, 2016
Accepted (ET)
Oct 12, 2016 · 7:10 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000310568
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Microsemi Common StockF1 | Oct 10, 2016 | A | 17,269 | $0.00 | A | 73,168 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance RightsF2 | — | Oct 10, 2016 | A | 51,807 | A | — | — | Microsemi Common Stock | 51,807 | 51,807 | D |
Explanation of responses
- F1Award of shares is scheduled to vest, subject to the reporting person's continued employment, over three years after the date of grant of the award.
- F2Each Performance Right represents a right to receive one share of Microsemi common stock. The target number of Performance Rights is indicated. Between 0% and 270% of the target number will be earned over a three-year performance period incorporating Microsemi's fiscal year 2017, 2018 and 2019, and based on revenue, adjusted earnings per share metrics and total shareholder return relative to a peer group of companies. A portion of the shares may be earned based on performance in each year of the performance period.