SEC Form 4 · accession 0001209191-17-024235
QUANTUM CORP /DE/ · QMCO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gregg J Powers
Director
Period of report
Apr 1, 2017
Accepted (ET)
Apr 3, 2017 · 5:23 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000709283
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Apr 1, 2017 | A | 50,000 | $0.00 | A | 345,392 | I | Pelican Bay Holdings, LLC |
| Common StockF3 | holding | — | — | — | 586,500 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Restricted Stock Units will fully vest on the date of Quantum Corporation's 2017 Annual Stockholder Meeting. For the avoidance of doubt, if Mr. Powers resigns for any reason or is removed from Quantum Corporation's board of directors prior to the vesting in full of this grant, Mr. Powers shall forfeit the entirety of this grant.
- F2The Restricted Stock Units were granted to Pelican Bay Holdings, LLC. Mr. Powers is the sole member of Pelican Bay Holdings, LLC.
- F3In addition, Mr. Powers, the CEO and Portfolio Manager of Private Capital Management, LLC ("PCM"), holds shared voting and dispositive power with respect to 13,311,187 shares held in PCM managed accounts. Mr. Powers disclaims beneficial ownership for these shares, and PCM and Mr. Powers disclaim the existence of a group with respect to any third party.