SEC Form 4 · accession 0001140361-15-017149
CYBERONICS INC · LIVN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Milton Mayo Morris
Other
Period of report
Apr 29, 2015
Accepted (ET)
May 1, 2015 · 11:20 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000864683
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Apr 29, 2015 | M | 176 | $25.71 | A | 21,322 | D | |
| Common Stock | Apr 29, 2015 | M | 5,173 | $42.52 | A | 26,495 | D | |
| Common Stock | Apr 29, 2015 | M | 2,119 | $51.90 | A | 28,614 | D | |
| Common StockF1 | Apr 29, 2015 | S | 7,468 | $63.5516 | D | 21,146 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Common StockF2 | $25.71 | Apr 29, 2015 | M | 176 | A | — | Jun 15, 2021 | Common Stock | 176 | 69,103 | D |
| Common StockF3 | $42.52 | Apr 29, 2015 | M | 5,173 | A | — | Jun 15, 2022 | Common Stock | 5,173 | 63,930 | D |
| Common StockF4 | $51.90 | Apr 29, 2015 | M | 2,119 | A | — | Jun 15, 2023 | Common Stock | 2,119 | 61,811 | D |
Explanation of responses
- F1Represents weighted average selling price. Securities were sold through approximately 22 separate sales on the transaction date at prices ranging from $63.25 to $63.86. The reporting person hereby undertakes to provide upon request to the SEC, the issuer or any stockholder of the issuer, the full information regarding the number of shares and prices at which the transaction was effected.
- F2Reporting Person was granted an option to purchase 15,634 shares of common stock, 25% of the shares under such option to vest on each of the next four anniversaries of June 15, 2011. The option is subject to certain vesting and forfeiture requirements in accordance with the terms of the applicable Stock Option Agreement.
- F3Reporting Person was granted an option to purchase 10,346 shares of common stock, 25% of the shares under such option to vest on each of the next four anniversaries of June 15, 2012. The option is subject to certain vesting and forfeiture requirements in accordance with the terms of the applicable Stock Option Agreement.
- F4Reporting Person was granted an option to purchase 8,476 shares of common stock, 25% of the shares under such option to vest on each of the next four anniversaries of June 15, 2013. The option is subject to certain vesting and forfeiture requirements in accordance with the terms of the applicable Stock Option Agreement.