SEC Form 4 · accession 0000310568-16-000470
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
Nov 8, 2016
Accepted (ET)
Nov 10, 2016 · 9:05 pm EST
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 Stock | Nov 8, 2016 | M | 86,712 | $0.00 | A | 157,178 | D | |
| Microsemi Common Stock | Nov 8, 2016 | F | 45,249 | $0.00 | D | 111,929 | D | |
| Microsemi Common StockF1 | Nov 8, 2016 | A | 5,432 | $0.00 | A | 117,361 | D | |
| Microsemi Common Stock | Nov 8, 2016 | F | 2,835 | $0.00 | D | 114,526 | 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 | — | Nov 8, 2016 | M | 29,310 | D | — | — | Microsemi Common Stock | 29,310 | 0 | D |
| Performance RightsF3 | — | Nov 8, 2016 | M | 38,762 | D | — | — | Microsemi Common Stock | 38,762 | 0 | D |
| Performance RightsF4 | — | Nov 8, 2016 | M | 18,640 | D | — | — | Microsemi Common Stock | 18,640 | 0 | D |
Explanation of responses
- F1Shares issued by Microsemi as part of the reporting person's bonus for fiscal year 2016.
- F2Each Performance Right represents a right to receive one share of Microsemi common stock. A target of 44,175 Performance Rights was granted on 11/04/2013 and between 0% and 250% of the target number may be earned over a three-year performance period incorporating Microsemi's fiscal year 2014, 2015 and 2016. This transaction reflects the number of shares earned in the third year of the performance period and a total of 66,086 were earned over the three-year performance period.
- F3Each Performance Right represents a right to receive one share of Microsemi common stock. A target of 64,603 Performance Rights was granted on 11/03/2014 and between 0% and 270% of the target number may be earned over a three-year performance period incorporating Microsemi's fiscal year 2015, 2016 and 2017. This transaction reflects the number of shares earned in the second year of the performance period and a total of 64,603 were earned in the first two years of the performnce period.
- F4Each Performance Right represents a right to receive one share of Microsemi common stock. A target of 46,600 Performance Rights was granted on 10/12/2015 and between 0% and 270% of the target number may be earned over a three-year performance period incorporating Microsemi's fiscal year 2016, 2017 and 2018. This transaction reflects the number of shares earned in the first year of the performance period.