SEC Form 4 · accession 0001209191-17-014072
ONTO INNOVATION INC. · ONTO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Timothy J Stultz
Officer — President & CEO · Director
Period of report
Feb 22, 2017
Accepted (ET)
Feb 23, 2017 · 8:17 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000704532
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 22, 2017 | M | 22,500 | $0.00 | A | 310,159 | D | |
| Common Stock | Feb 22, 2017 | S | 14,419 | $27.94 | D | 295,740 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Stock UnitsF1 | — | Feb 22, 2017 | M | 22,500 | D | — | Feb 22, 2019 | Common Stock | 22,500 | 45,000 | D |
Explanation of responses
- F1Shares are represented by performance stock units. Each performance stock unit represents a contingent right to receive one share of NANO common stock. The performance stock units vest on an annual basis, in equal 1/3rd target increments, over a three-year period, provided that certain price performance targets are met. 2/3rds will vest for each increment if target price performance is met for that increment and 100% will vest if maximum price performance is met for that increment.