SEC Form 4 · accession 0001437749-16-037337

· DSPG

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — VP and CFO

Period of report

Aug 10, 2016

Accepted (ET)

Aug 12, 2016 · 5:45 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000915778

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I
Common Stock	Aug 10, 2016	M	25,000	$6.16	A	149,060	D
Common Stock^F1	Aug 10, 2016	D	14,300	$10.77	D	134,760	D
Common Stock^F2	Aug 10, 2016	S	10,700	$10.70	D	124,060	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Stock Appreciation Right^F3,F4	$6.16	Aug 10, 2016	M	25,000	D	—	Feb 1, 2019	Common Stock	12,500	0	D

F1This represents the difference between the number of SARs exercised (25,000) and the number of shares issued as a result of the exercise (10,700). The number of shares to be issued under a SAR exercise is determined by multiplying the number of SARs being exercised by the difference between the FMV on the date immediately prior to the date the SAR is exercised ($10.77) and the base price ($6.16).
F2Represents 4,060 shares outstanding, 63,130 vested RSUs, and 56,870 unvested RSUs.
F3The Stock Appreciation Right vests 25% after 1 year and 6.25% each quarter thereafter.
F4The Stock Appreciation Right grant is subject to a ceiling such that when the fair market value of the Company's common stock is equal to or great than two times the base appreciation amount of the stock appreciation right, the portion of the stock appreciation rights that is vested on such date is automatically exercised on the next trading day and the appreciation amount is paid by the issuance of the respective number of shares of the Company's common stock. Therefore, the number of underlying shares of common stock that may be received upon exercise cannot exceed 1/2 of the number of stock appreciation rights granted.