4//SEC Filing
DAVISON JEFFREY C 4
Accession 0000807863-20-000029
CIK 0000807863other
Filed
Mar 23, 8:00 PM ET
Accepted
Mar 24, 4:32 PM ET
Size
8.9 KB
Accession
0000807863-20-000029
Insider Transaction Report
Form 4
DAVISON JEFFREY C
Chief Financial Officer
Transactions
- Award
Performance Restricted Stock Units
2020-03-20+28,878→ 28,878 total→ Common Stock (28,878 underlying) - Award
Common Stock
2020-03-20$6.06/sh+28,878$175,001→ 184,943 total
Footnotes (5)
- [F1]Represents restricted stock units granted on March 20, 2020 under Mitek's 2020 Incentive Plan. Shares subject to the award vest as follows: 37.5% shall vest on the first anniversary of the date of grant, 12.5% shall vest on November 14, 2021, 25% shall vest on November 14, 2022, and 25% shall vest on November 14, 2023.
- [F2]Includes 1,684 shares acquired under the Mitek employee stock purchase plan on February 14, 2020 in a transaction that was exempt under both Rule 16b-3(d) and Rule 16b-3(c).
- [F3]Represents restricted stock units granted on March 20, 2020 under Mitek's 2020 Incentive Plan (the "Performance RSUs"), which vest based upon the achievement of certain performance criteria over the three year period following the date of grant (each such year, a "Performance Period"), with up to 33% of such units vesting (on each anniversary of the date of grant) with respect to each applicable Performance Period. Performance criteria is measured on both an annual and cumulative basis as described below.
- [F4]The annual performance criteria for each annual Performance Period shall be for the % increase in value of Mitek's common stock to meet or exceed the % increase in value of the Russell 2000 Index over the applicable annual Performance Period, based on a hypothetical investment in both Mitek's common stock and the Russell 2000 Index with a purchase price equal to the average closing price of each for the 20-trading days immediately preceding the start of the applicable Performance Period. At the end of the applicable Performance Period, the value of the hypothetical investments shall be determined by assuming the sale of each based on the average closing price of each from the immediately preceding 20-trading days. The % change shall be determined by comparing the increase in value to the starting investment.
- [F5]Additionally, a portion of the Performance RSUs may vest during a later Performance Period if the cumulative % increase in value of Mitek common stock measured over the current and all previous Performance Periods exceeds the cumulative % increase in value of the Russell 2000 Index.
Documents
Issuer
MITEK SYSTEMS INC
CIK 0000807863
Entity typeother
Related Parties
1- filerCIK 0001421479
Filing Metadata
- Form type
- 4
- Filed
- Mar 23, 8:00 PM ET
- Accepted
- Mar 24, 4:32 PM ET
- Size
- 8.9 KB