SEC Form 4 · accession 0001437749-17-009329
EXAR CORP · EXAR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jing Lin
Officer — Chief Accounting Officer
Period of report
May 12, 2017
Accepted (ET)
May 16, 2017 · 6:20 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000753568
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 12, 2017 | U | 18,842 | — | D | 33,666 | D | |
| Common StockF2 | May 12, 2017 | D | 33,666 | — | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F3 | $9.40 | May 12, 2017 | D | 6,250 | D | — | Nov 3, 2021 | Common Stock | 6,250 | 0 | D |
| Stock Option (right to buy)F4 | $5.70 | May 12, 2017 | D | 5,937 | D | — | Oct 1, 2022 | Common Stock | 5,937 | 0 | D |
| Stock Option (right to buy)F5 | $6.18 | May 12, 2017 | D | 3,750 | D | — | May 2, 2023 | Common Stock | 3,750 | 0 | D |
| Stock Option (right to buy)F6 | $8.07 | May 12, 2017 | D | 10,800 | D | — | May 1, 2019 | Common Stock | 10,800 | 0 | D |
| Stock Option (right to buy)F7 | $8.06 | May 12, 2017 | D | 4,000 | D | — | Oct 1, 2019 | Common Stock | 4,000 | 0 | D |
| Stock Option (right to buy)F8 | $11.46 | May 12, 2017 | D | 23,750 | D | — | Mar 3, 2021 | Common Stock | 23,750 | 0 | D |
| Stock Option (right to buy)F9 | $9.40 | May 12, 2017 | D | 3,750 | D | — | Nov 3, 2021 | Common Stock | 3,750 | 0 | D |
| Stock Option (right to buy)F9 | $5.70 | May 12, 2017 | D | 9,063 | D | — | Oct 1, 2022 | Common Stock | 9,063 | 0 | D |
| Stock Option (right to buy)F9 | $6.18 | May 12, 2017 | D | 11,250 | D | — | May 2, 2023 | Common Stock | 11,250 | 0 | D |
| Stock Option (right to buy)F9 | $11.46 | May 12, 2017 | D | 6,250 | D | — | Mar 3, 2021 | Common Stock | 6,250 | 0 | D |
Explanation of responses
- F1Tendered into and disposed of upon the closing of the tender offer initiated by Eagle Acquisition Corp. ("Purchaser") pursuant to the Agreement and Plan of Merger by and among MaxLinear, Inc. ("MaxLinear"), Purchaser (a wholly owned subsidiary of MaxLinear), and Issuer, dated as of March 28, 2017 (the "Merger Agreement"), whereby Purchaser offered to purchase each outstanding share of common stock of the Issuer ("Issuer Common Stock") for a cash payment of $13.00 per share (the "Offer Price").
- F2Disposed of pursuant to the Merger Agreement whereby each unvested restricted stock unit ("RSU") award held by a continuing service provider was automatically converted into a corresponding stock unit award in that number of shares of MaxLinear's Common Stock equal to the product of the number of shares underlying the unvested Issuer RSU multiplied by the Option Exchange Ratio, rounded down to the nearest whole share, which converted stock unit awards vest by the Reporting Person's completion of the remaining service-vesting schedule or earlier by satisfaction of the terms and conditions required by MaxLinear. The Option Exchange Ratio was calculated as the quotient of the Offer Price over $28.61 (which is the volume weighted average closing price per share of MaxLinear's Common Stock as reported on the NYSE over the 10 consecutive trading days ending on the second trading immediately preceding the expiration of Purchaser's tender offer).
- F3Disposed of pursuant to the Merger Agreement, whereby each vested option to acquire Issuer Common Stock with an exercise price less than the Offer Price was cancelled in exchange for the right to receive a cash payment equal to the product of the total number of shares subject to the vested option multiplied by the amount by which the Offer Price exceeds the exercise price per share of such vested option ($3.60).
- F4Disposed of pursuant to the Merger Agreement, whereby each vested option to acquire Issuer Common Stock with an exercise price less than the Offer Price was cancelled in exchange for the right to receive a cash payment equal to the product of the total number of shares subject to the vested option multiplied by the amount by which the Offer Price exceeds the exercise price per share of such vested option ($7.30).
- F5Disposed of pursuant to the Merger Agreement, whereby each vested option to acquire Issuer Common Stock with an exercise price less than the Offer Price was cancelled in exchange for the right to receive a cash payment equal to the product of the total number of shares subject to the vested option multiplied by the amount by which the Offer Price exceeds the exercise price per share of such vested option ($6.82).
- F6Disposed of pursuant to the Merger Agreement, whereby each vested option to acquire Issuer Common Stock with an exercise price less than the Offer Price was cancelled in exchange for the right to receive a cash payment equal to the product of the total number of shares subject to the vested option multiplied by the amount by which the Offer Price exceeds the exercise price per share of such vested option ($4.93).
- F7Disposed of pursuant to the Merger Agreement, whereby each vested option to acquire Issuer Common Stock with an exercise price less than the Offer Price was cancelled in exchange for the right to receive a cash payment equal to the product of the total number of shares subject to the vested option multiplied by the amount by which the Offer Price exceeds the exercise price per share of such vested option ($4.94).
- F8Disposed of pursuant to the Merger Agreement, whereby each vested option to acquire Issuer Common Stock with an exercise price less than the Offer Price was cancelled in exchange for the right to receive a cash payment equal to the product of the total number of shares subject to the vested option multiplied by the amount by which the Offer Price exceeds the exercise price per share of such vested option ($1.54).
- F9Disposed of pursuant to the Merger Agreement whereby each unvested option to acquire Issuer Common Stock subject only to time-based vesting and held by a continuing service provider was automatically converted into a corresponding option to purchase that number of shares of MaxLinear's Common Stock equal to the product of the number of shares underlying the Issuer option multiplied by the Option Exchange Ratio, rounded down to the nearest whole share, at an exercise price equal to the exercise price per share of Issuer Common Stock divided by the Option Exchange Ratio, rounded up to the nearest whole cent. These converted stock unit awards vest by the Reporting Person's completion of the remaining time-based vesting schedule or earlier by satisfaction of the terms and conditions required by MaxLinear.