SEC Form 4 · accession 0000310568-18-000046
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
Mar 14, 2018
Accepted (ET)
Mar 16, 2018 · 4:40 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 Stock | Mar 14, 2018 | M | 500,000 | $0.00 | A | 713,498 | D | |
| Microsemi Common Stock | Mar 14, 2018 | F | 245,633 | $66.24 | D | 467,865 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance RightsF1 | — | Mar 14, 2018 | M | 500,000 | D | — | Jul 26, 2021 | Microsemi Common Stock | 500,000 | 250,000 | D |
Explanation of responses
- F1Each Performance Right represents a contingent right to receive one share of MSCC Common Stock. The performance rights are scheduled to vest (a) 25% upon MSCC'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 MSCC'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 MSCC'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. This transaction reports the vesting of the second tranche of this award.