SEC Form 4 · accession 0001214659-16-008773
EMCORE CORP · EMKR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark Weinswig
Officer — Chief Financial Officer
Period of report
Jan 5, 2016
Accepted (ET)
Jan 8, 2016 · 6:04 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000808326
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 5, 2016 | M | 12,500 | — | A | 92,306 | D | |
| Common Stock | Jan 6, 2016 | S | 5,504 | $5.77 | D | 86,802 | D | |
| Common Stock | Jan 6, 2016 | S | 163 | $5.78 | D | 86,639 | 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 UnitsF6,F3,F4,F5 | — | Jan 5, 2016 | M | 12,500 | D | — | — | Emcore Common Stock | 12,500 | 25,000 | D |
Explanation of responses
- F1Each restricted stock unit represented a contingent right to receive one share of Emcore common stock. Restricted stock units were payable, at the election of the Issuer, in cash, Emcore common stock, or a combination of the two. On January 5, 2016, the Issuer settled the restricted stock units in common stock.
- F2All sales were effected pursuant to a 10b5-1 plan previously adopted by the Reporting Person to satisfy the reporting person's tax liability in connection with the vesting of restricted stock units that were granted under the Company's 2012 Equity Incentive Plan, which grant was exempt from Section 16b pursuant to Rule 16b-3(d).
- F3Each restricted stock unit represents a contingent right to receive one share of Emcore common stock. Restricted stock units are payable, at the election of the Issuer, in cash, Emcore common stock, or a combination of the two.
- F412,500 restricted stock units vested on January 5, 2016.
- F5The remaining unvested restricted stock units vest in two equal annual installments commencing on January 1, 2017. Not later than 30 days after vesting occurs, vested shares of Emcore common stock, an amount in cash equal to their fair market value or a combination of the two will be delivered to the Reporting Person.
- F6The restricted stock units were awarded to the Reporting Person for no cash or other similar consideration.