SEC Form 4 · accession 0001144204-15-064504
DATAWATCH CORP · DWCH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John P Judge
Officer — Senior VP of Worldwide Sales
Period of report
Nov 10, 2015
Accepted (ET)
Nov 12, 2015 · 11:11 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000792130
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3 | Nov 10, 2015 | A | 30,000 | $0.00 | A | 105,000 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The securities awarded on 11/10/2015 are in the form of restricted stock units (RSUs) issued pursuant to the issuer's Second Amended and Restated 2011 Equity Compensation and Incentive Plan. 20,000 of the RSUs are time-based RSU awards. Of these, 6,666 RSUs will vest on 11/15/2016 and an additional 6,666 RSUs will vest at 11/15/2017, with the final 6,667 RSUs vesting on 11/15/2018. This vesting schedule is subject to acceleration in certain instances in connection with an acquisition or other change of control event.
- F2The other 10,000 of the RSUs are performance-based RSU awards. 5,000 of these performance-based awards will vest following Datawatch's release of fiscal 2016 first quarter earnings only if the issuer attains a specified number of sales to new, unique customers during that quarter. The other 5,000 performance-based awards will vest following Datawatch's release of fiscal 2016 second quarter earnings only if the issuer Mr. Judge achieves an individual performance objective to be established for that quarter and the issuer's executive team achieves an executive team-based performance objective to be established for that quarter. Mr. Judge's individual performance objective and the executive team performance objective will be established, and the achievement of the objectives determined, by the issuer's chief executive officer.
- F3This amount no longer includes the 5,000 performance-based RSUs awarded to Mr. Judge on 11/20/14 which did not vest.