SEC Form 4 · accession 0000873044-16-000206
RADISYS CORP · RSYS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lawrence Lavier
Officer — VP & GM, Embedded Products & H
Period of report
Jul 22, 2016
Accepted (ET)
Jul 26, 2016 · 6:40 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000873044
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jul 22, 2016 | M | 100,000 | $0.00 | A | 115,552 | D | |
| Common Stock | Jul 22, 2016 | F | 36,350 | $5.21 | D | 79,202 | D | |
| Common Stock | holding | — | — | — | 8,074 | I | By 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Restricted Stock UnitsF2,F3 | $0.00 | Jul 22, 2016 | M | 100,000 | D | Jun 30, 2015 | — | Common Stock | 100,000 | 0 | D |
Explanation of responses
- F1The disposition of directly held shares reported on this form solely represents shares surrendered back to the company as payment of taxes on the vesting of restricted stock.
- F2On March 2, 2015, the reporting person was granted performance restricted stock units, vesting only if specified total shareholder return objectives are achieved. On July 22, 2016, Tranche 1, representing 50% of the total award, vested due to the certification of the achievement of a 30 trading day average closing price of Radisys common stock at or above $3.45 prior to June 30, 2016. Also on July 22, 2016, Tranche 2, representing 50% of the total award, vested due to the certification of the achievement of a 30 trading day average closing price of Radisys common stock at or above $4.25 prior to June 30, 2016. One share of Common Stock was delivered to the reporting person for each restricted stock unit that vests.
- F3N/A