CLARENT CORP/CA 5
5 · CLARENT CORP/CA · Filed Feb 14, 2000
Insider Transaction Report
Form 5
Transactions
- Award
Option (right to buy)
1999-06-30+5,000→ 5,000 totalExercise: $15.00 - Award
Option (right to buy)
1999-12-27+2,000→ 2,000 totalExercise: $63.75→ Common Stock (2,000 underlying)
Holdings
- 1,727,658(indirect: 01)
Common Stock
Footnotes (4)
- [01]The Reporting Person is a managing director of Goldman Sachs (Asia) L.L.C., an affiliate of The Goldman Sachs Group, Inc. ("GS Group"). Goldman, Sachs & Co. ("Goldman Sachs") is an indirect wholly-owned subsidiary of GS Group. GS Group may be deemed to own beneficially and directly 1,234,042 shares of Common Stock. Goldman Sachs and GS Group may be deemed to own beneficially and indirectly, in the aggregrate, 493,616 shares of Common Stock through certain investment partnerships of which affiliates of Goldman Sachs and GS Group are the general partner or managing general partner (the "Investment Partnerships"). The Reporting Person disclaims beneficial ownership of the securities reported herein as indirectly owned, except to the extent of her pecuniary interest therein, if any.
- [02]These options may be deemed to have been granted pursuant to the Issuer's 1999 Non-Employee Directors' Stock Option Plan, which as of the date of the Issuer's initial public offering had provided that upon the Issuer's initial public offering all non-employee directors would automatically receive a grant of options to purchase 5,000 shares of the Issuer Common Stock. This automatic grant was intended to apply to new non-employee directors but not to existing non-employee directors (such as the Reporting Person), and the Issuer's 1999 Non-Employee Directors' Stock Option Plan has been revised accordingly. To the extent that these options are deemed to have been granted, they have been cancelled with no value received.
- [03]These options were granted to the Reporting Person pursuant to the Issuer's 1999 Non-Employee Directors' Stock Option Plan. The Reporting Person has an understanding with GS Group pursuant to which she holds the stock options for the benefit of GS Group.
- [1999]Non-Employee Directors' Stock Option Plan, which as of the date of the Issuer's initial public offering had provided that upon the Issuer's initial public offering all non-employee directors would automatically receive a grant of options to purchase 5,000 shares of the Issuer Common Stock. This automatic grant was intended to apply to new non-employee directors but not to existing non-employee directors (such as the Reporting Person), and the Issuer's 1999 Non-Employee Directors' Stock Option Plan has been revised accordingly. To the extent that these options are deemed to have been granted, they have been cancelled with no value received. 03: These options were granted to the Reporting Person pursuant to the Issuer's Non-Employee Directors' Stock Option Plan. The Reporting Person has an understanding with GS Group pursuant to which she holds the stock options for the benefit of GS Group.