SEC Form 4 · accession 0000833640-19-000063
POWER INTEGRATIONS INC · POWI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ben Sutherland
Officer — VP of Sales
Period of report
Feb 12, 2019
Accepted (ET)
Feb 14, 2019 · 7:57 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000833640
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Feb 12, 2019 | A | 7,800 | $0.00 | A | 45,561 | D | |
| Common StockF1 | Feb 13, 2019 | A | 1,320 | $0.00 | A | 46,881 | D | |
| Common StockF1 | Feb 13, 2019 | A | 5,224 | $0.00 | A | 52,105 | D | |
| Common StockF2 | Feb 14, 2019 | S | 628 | $70.4212 | D | 51,477 | D | |
| Common StockF2,F3 | Feb 14, 2019 | S | 1,829 | $70.4213 | D | 49,648 | D | |
| Common StockF4 | Feb 14, 2019 | S | 736 | $70.4213 | D | 48,912 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The reporting person was granted a Performance Stock Unit. The Performance Stock Unit vests based on Power Integrations satisfaction of certain performance conditions. The performance conditions for 2018 were met.
- F2Represents the automatic sale of stock to cover the tax liability associated with the vesting of a Performance Stock Unit.
- F3Sale resulted in short-swing profits that Power Integrations is entitled to recoup from Mr. Sutherland under Section 12(b) of the Securities Exchange Act of 1934, which amounted to $70, and Mr. Sutherland has remitted the full amount of $70 to Power Integrations.
- F4Represents the automatic sale of stock to cover the tax liability associated with the vesting of a Restricted Stock Award.