SEC Form 4 · accession 0001576570-15-000032
ALTERA CORP · ALTR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dan Biran
Officer — Sr VP, Strategy
Period of report
May 4, 2015
Accepted (ET)
May 6, 2015 · 6:11 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000768251
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Restricted Stock Unit (8)F1,F2 | — | May 4, 2015 | A | 17,782 | A | — | — | Common Stock | 17,782 | 17,782 | D |
| Restricted Stock Unit (RSU)F1,F3 | — | May 4, 2015 | A | 20,746 | A | — | — | Common Stock | 20,746 | 60,132 | D |
Explanation of responses
- F1Each Restricted Stock Unit ("RSU") represents a contingent right to receive at settlement one share of Altera common stock at no cost.
- F2The performance restricted stock units ("PRSUs") were granted under Altera's 2005 Equity Incentive Plan. The exact number of PRSUs (Calculated Shares) that may be earned will be determined by comparing Altera's total shareholder return ("TSR") to the TSR of the Philadelphia Semiconductor Total Return Index (the "Index") immediately preceding and at the end of the three-year period commencing May 4, 2015 and ending May 4, 2018 (the "Performance Period"). Each 1% difference between Altera's TSR and the Index TSR at the end of the Performance Period will result in a 2% upwards or downwards adjustment to the payout percentage. The number of performance stock units shown in columns 5 and 7 is equal to the maximum number of PRSUs that may be earned. The minimum number of PRSUs that may be earned is zero. Subject to the Reporting Person's continuing employment and the provisions set forth in the PRSU award agreement, 100% of the Calculated Shares will vest on May 31, 2018.
- F3Subject to the Reporting Person's continuing employment and the provisions in the Altera's standard form of RSU award agreement, the shares shall vest at a rate of 25% annually. Shares will be delivered to the reporting person on such vest date.