SEC Form 4 · accession 0001209191-15-026725
CYPRESS SEMICONDUCTOR CORP /DE/ · CY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Oc Kwon
Director
Period of report
Mar 12, 2015
Accepted (ET)
Mar 16, 2015 · 9:28 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000791915
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 12, 2015 | A | 4,972 | — | A | 4,972 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F3 | — | Mar 12, 2015 | A | 24,877 | A | — | — | Common Stock | 24,877 | 24,877 | D |
| Restricted Stock UnitsF4,F5 | — | Mar 12, 2015 | A | 11,160 | A | — | — | Common Stock | 11,160 | 11,160 | D |
| Restricted Stock UnitsF4,F6 | — | Mar 12, 2015 | A | 1,956 | A | — | — | Common Stock | 1,956 | 1,956 | D |
Explanation of responses
- F1Received in exchange for 2,024 shares of Spansion Inc. ("Spansion") common stock pursuant to the Agreement and Plan of Merger and Reorganization dated as of December 1, 2014 (the "Merger Agreement" and, the transactions contemplated therein, the "Merger"), by and among the Issuer, Mustang Acquisition Corporation (a wholly owned subsidiary of the Issuer) and Spansion, whereby each share of Spansion common stock was canceled and automatically converted into 2.457 shares of Issuer common stock (the "Exchange Ratio"), with fractional shares being paid in cash as provided in the Merger Agreement. The market value of Issuer common stock received pursuant to the Merger Agreement is $15.68 per share, based on the trading price of Issuer common stock on March 12, 2015.
- F2Received in the Merger in exchange for a restricted stock unit award (the "RSU") representing a contingent right to receive 10,125 shares of Spansion common stock. The number of shares subject to this RSU was adjusted to reflect the Exchange Ratio, as provided in the Merger Agreement.
- F3This RSU represents a contingent right to receive Issuer common stock on a one-for-one basis. This RSU is fully vested, being subject to the same terms and conditions as were applicable to the Spansion RSU from which it converted.
- F4Received upon initial appointment to the Issuer's board of directors (the "Initial Equity Grant").
- F5This Initial Equity Grant represents a contingent right to receive Issuer common stock on a one-for-one basis and vests in 3 equal annual installments beginning March 12, 2016.
- F6This Initial Equity Grant represents a contingent right to receive Issuer common stock on a one-for-one basis and is 100% vested on the day before the next annual stockholders meeting.