SEC Form 4 · accession 0000911916-15-000059
FARO TECHNOLOGIES INC · FARO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jay Freeland
Officer — President & CEO · Director
Period of report
Feb 26, 2015
Accepted (ET)
Mar 2, 2015 · 10:58 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000917491
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 26, 2015 | M | 40,000 | $31.06 | A | 45,040 | D | |
| Common StockF1,F2,F3 | Feb 26, 2015 | S | 40,000 | $60.3313 | D | 5,040 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F4 | $31.06 | Feb 26, 2015 | M | 40,000 | D | — | Mar 12, 2018 | Common Stock | 40,000 | 0 | D |
Explanation of responses
- F1The stock option exercise and sales reported in this Form 4 were effected pursuant to the reporting person's stock trading plan (the "Trading Plan"), in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The Trading Plan became effective on November 26, 2014 and will terminate on November 25, 2015, unless earlier terminated in accordance with the terms of the Trading Plan. Pursuant to the terms of the Trading Plan, the reporting person does not have any discretion or control over the timing or effectuation of sales.
- F2The reporting person effected multiple same-way open market sale transactions on the same day at different prices through a trade order executed by a broker-dealer. The reporting person reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities Exchange Commission staff, the Issuer, or a shareholder of the Issuer, full information regarding the number of shares sold at each separate price.
- F3Reflects the weighted average sale price. The range of prices for such transaction is $60.00 to $61.77.
- F4The option was granted to the reporting person under the Issuer's 2004 Equity Incentive Plan, and vested in three equal annual installments beginning on March 12, 2009.