GALLETTI MICHAEL 4
4 · COMTECH TELECOMMUNICATIONS CORP /DE/ · Filed Aug 2, 2017
Insider Transaction Report
Form 4
GALLETTI MICHAEL
Chief Operating Officer
Transactions
- Exercise/Conversion
Common stock par value $.10 per share
2017-07-31+641→ 13,458 total - Tax Payment
Common stock par value $.10 per share
2017-07-31$18.00/sh−641$11,538→ 12,817 total - Exercise/Conversion
Share Unit
2017-07-31−641→ 17,182 total→ Common stock par value $.10 per share (641 underlying) - Award
Share Unit
2017-07-31+17,823→ 17,823 total→ Common stock par value $.10 per share (17,823 underlying)
Footnotes (2)
- [F1]These transactions represent the net settlement of share units (see footnote #2) to withhold the reporting person's Federal Insurance Contributions Act ("FICA") tax and certain federal and state income taxes.
- [F2]Share units are rights to convert solely into Comtech Telecommunications Corp. common stock on a one-for-one basis. The share units were issued in lieu of cash settlements based on the achievement of pre-established non-equity incentive goals for the fiscal year ending July 31, 2017, pursuant to the 2000 Stock Incentive Plan. These share units are fully vested, are subject to certain transfer restrictions, cannot be assigned, and will be converted into Comtech Telecommunications Corp. common stock following the one-year anniversary of the grant date which will occur on July 31, 2018.