GALLETTI MICHAEL 4/A
4/A · COMTECH TELECOMMUNICATIONS CORP /DE/ · Filed Aug 11, 2017
Insider Transaction Report
Form 4/AAmended
GALLETTI MICHAEL
Chief Operating Officer
Transactions
- Award
Share Unit
2017-07-31+12,267→ 12,267 total→ Common stock par value $.10 per share (12,267 underlying) - Exercise/Conversion
Common stock par value $.10 per share
2017-07-31+441→ 13,258 total - Tax Payment
Common stock par value $.10 per share
2017-07-31$18.00/sh−441$7,938→ 12,817 total - Exercise/Conversion
Share Unit
2017-07-31−441→ 11,826 total→ Common stock par value $.10 per share (441 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. These shares represent an amendment of the Form 4 filed on August 2, 2017 which inadvertently showed a grant of 17,823 share units instead of the grant of 12,267 which occurred on July 31, 2017. The related net settlement should have been reported as 441 share units instead of 641.
- [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.