4//SEC Filing
EXAR CORP 4
Accession 0000753568-13-000013
CIK 0000753568operating
Filed
May 1, 8:00 PM ET
Accepted
May 2, 2:17 PM ET
Size
7.1 KB
Accession
0000753568-13-000013
Insider Transaction Report
Form 4
EXAR CORPEXAR
DINARDO LOUIS
President and CEO
Transactions
- Tax Payment
Common Stock
2013-04-30$10.78/sh−12,227$131,807→ 6,375 total - Award
Common Stock
2013-04-30+100,000→ 106,375 total
Footnotes (2)
- [F1]Transaction represents tax withholding in connection with the vesting of a portion of the restricted stock units as described in note (2) below . 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]In accordance with Section 3.3(b) of Mr. DiNardo's December 1, 2011 Employment Agreement with the Company filed with the SEC on December 6, 2011,Mr. DiNardo was granted an award of 300,000 restricted stock units (RSUs) in March 2012 that is eligible to vest in three tranches based on the issuer's achievement of specified financial performance targets. The first 33.4% of the 100,000 RSU Tranche of the RSU Award vested on April 30, 2013 since the performance criteria was met. The remaining 66.6%of the first Tranche will vest in two equal amounts at the end of fiscal year 2014 and fiscal year 2015, respectively, provided that Mr. DiNardo remains actively and continuously employed with the Company through the applicable vesting date.
Documents
Issuer
EXAR CORP
CIK 0000753568
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0000753568
Filing Metadata
- Form type
- 4
- Filed
- May 1, 8:00 PM ET
- Accepted
- May 2, 2:17 PM ET
- Size
- 7.1 KB