SEC Form 4 · accession 0001209191-15-027271
HARMONIC INC. · HLIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patrick Harshman
Officer — President and CEO · Director
Period of report
Mar 13, 2015
Accepted (ET)
Mar 17, 2015 · 7:29 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000851310
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Mar 13, 2015 | M | 7,000 | $5.86 | A | 403,504 | D | |
| Common Stock | Mar 13, 2015 | M | 41,674 | $5.86 | A | 445,175 | D | |
| Common Stock | Mar 13, 2015 | S | 35,724 | $7.5761 | D | 409,451 | 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 UnitsF1,F2 | $0.00 | Mar 13, 2015 | A | 60,000 | A | Feb 15, 2016 | Feb 15, 2018 | Common Stock | 60,000 | 60,000 | D |
| Stock Option/Right to buyF3 | $7.58 | Mar 13, 2015 | A | 266,667 | A | Feb 15, 2016 | Mar 13, 2022 | Common Stock | 266,667 | 266,667 | D |
| Restricted Stock UnitsF1,F4 | $0.00 | Mar 13, 2015 | A | 60,000 | A | Feb 15, 2016 | Feb 15, 2016 | Common Stock | 60,000 | 60,000 | D |
| Stock Option/Right to buyF5 | $5.86 | Mar 13, 2015 | M | 48,674 | D | May 3, 2006 | May 3, 2015 | Common Stock | 48,674 | 0 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of Harmonic common stock.
- F2Forty percent of the shares subject to the restricted stock units are scheduled to vest on February 15, 2016, and fifteen percent of the restricted stock units are scheduled to vest semi-annually thereafter so as to be 100% vested on February 15, 2018.
- F3Twenty-five percent of the Shares subject to the Option are scheduled to vest twelve months after the Vesting Commencement Date, and one forty eighth of the Shares subject to the Option are scheduled to vest monthly thereafter.
- F4The RSUs will vest between 50% and 100% of the total grant based on performance against the Company's fiscal year 2015 revenue targets, as determined by the Compensation Committee of the Company on or before 2/15/2016.
- F5These shares of common stock were acquired upon the exercise of stock options on 3/13/2015 that were scheduled to expire on 5/03/2015. These options were initially granted to the Reporting Person on 5/3/2005, and were identified on a Form 4 filed by the Reporting Person on 5/4/2005.