SEC Form 4 · accession 0001593968-18-000885
SEMTECH CORP · SMTC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mohan Maheswaran
Officer — President and CEO · Director
Period of report
Jun 7, 2018
Accepted (ET)
Jun 8, 2018 · 5:51 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000088941
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jun 7, 2018 | M | 154,000 | $0.00 | A | 233,319 | D | |
| Common Stock | Jun 7, 2018 | F | 76,354 | $50.10 | D | 156,965 | D |
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 UnitF2,F1,F3 | — | Jun 7, 2018 | M | 154,000 | D | — | Feb 26, 2019 | Common Stock | 154,000 | 0 | D |
Explanation of responses
- F1Each Performance Restricted Stock Unit is the economic equivalent of one share of Semtech common stock.
- F2This amount represents the 70% of the total award that vested as a result of the achievement of the 120-day closing price average equaling or exceeding $40.
- F3Mr. Maheswaran was awarded 220,000 Performance Restricted Stock Units on February 26, 2014. The award vests 30% if the 120-day average closing price equals or exceeds $35. The award vests fully if the 120-day average closing price equals or exceeds $40.