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4//SEC Filing

Wagenseller David 4

Accession 0000752431-12-000040

CIK 0000752431other

View on SEC.gov Company Profile

Filed

Aug 23, 8:00 PM ET

Accepted

Aug 24, 6:24 PM ET

Size

19.6 KB

Accession

0000752431-12-000040

Insider Transaction Report

Form 4

Period: 2012-08-24

NETWORK EQUIPMENT TECHNOLOGIES INCNWK

Wagenseller David

Acting CFO

Transactions

Other
Non-Qualified Stock Option (right to buy)
2012-08-24−1,000→ 0 total
Exercise: $4.69From: 2012-08-24Exp: 2015-08-01→ Common Stock (1,000 underlying)
Other
Non-Qualified Stock Option (right to buy)
2012-08-24−25,000→ 0 total
Exercise: $5.60From: 2012-08-24Exp: 2017-03-08→ Common Stock (25,000 underlying)
Other
Common Stock
2012-08-24$1.35/sh−8,527$11,511→ 0 total
Other
Non-Qualified Stock Option (right to buy)
2012-08-24−20,000→ 0 total
Exercise: $2.60From: 2012-08-24Exp: 2018-08-01→ Common Stock (20,000 underlying)
Other
Non-Qualified Stock Option (right to buy)
2012-08-24−60,000→ 0 total
Exercise: $4.90From: 2012-08-24Exp: 2017-05-10→ Common Stock (60,000 underlying)
Other
Non-Qualified Stock Option (right to buy)
2012-08-24−10,000→ 0 total
Exercise: $5.99From: 2012-08-24Exp: 2016-08-17→ Common Stock (10,000 underlying)
Other
Non-Qualified Stock Option (right to buy)
2012-08-24−40,000→ 0 total
Exercise: $0.83From: 2012-08-24Exp: 2019-02-21→ Common Stock (40,000 underlying)
Other
Non-Qualified Stock Option (right to buy)
2012-08-24−10,500→ 0 total
Exercise: $4.60From: 2012-08-24Exp: 2015-12-05→ Common Stock (10,500 underlying)

Footnotes (3)

[F1]Disposed of in connection with the acquisition of Network Equipment Technology, Inc. ("NET") by Sonus Networks, Inc. ("Sonus"), completed on August 24, 2012. In connection with the merger, each outstanding share of NET common stock was exchanged for $1.35 in cash.
[F2]This option was assumed by Sonus Netowrks, Inc. in the merger completed on August 24, 2012 and will be replaced with an equivalent option (based on the exchange ratio) to purchase shares of Sonus common stock.
[F3]Under the terms of the merger of Network Equipment Technology and Sonus Networks, Inc completed on August 24, 2012, this option became fully-vested immediately prior to the closing of the merger and then was cancelled upon the closing.

Documents

1 file

4
edgardoc.xmlPrimary
PRIMARY DOCUMENT

Issuer

NETWORK EQUIPMENT TECHNOLOGIES INC

CIK 0000752431

Entity typeother

Related Parties

1

filerCIK 0001477145

Filing Metadata

Form type: 4
Filed: Aug 23, 8:00 PM ET
Accepted: Aug 24, 6:24 PM ET
Size: 19.6 KB

View on SEC.gov