Long Bentley 4
4 · EXAR CORP · Filed Oct 4, 2010
Insider Transaction Report
Form 4
EXAR CORPEXAR
Long Bentley
VP WW SALES
Transactions
- Tax Payment
Common Stock
2010-10-01$5.97/sh−163$973→ 35,148 total - Award
Incentive Stock Option (right to buy)
2010-10-01+12,000→ 12,000 totalExercise: $5.97Exp: 2017-10-01→ Common Stock (12,000 underlying)
Footnotes (2)
- [F1]Transaction represents tax withholding in connection with the vesting on 10/1/10 of a portion of the restricted stock units awarded and previously reported in Table I of a Form 4 filed in connection with the grant of the award. Pursuant to terms of award, upon vesting issuer automatically reduces the number of shares payable in connection with the vesting of the award by a number of shares having a value equal to the tax withholding obligations arising from the vesting of the award. These tax withholding transactions are exempt under Rule 16b-3 of the Securities Exchange Act of 1934, as amended. The reporting person is reporting (using Code F) the shares not issued by the issuer because of the applicable tax withholding.
- [F2]Employee stock options granted pursuant to the Exar Corporation 2006 Equity Incentive Plan; the options vest 25% per year on the anniversary date of the grant, 10/1/10.