4//SEC Filing
Gray Jason 4
Accession 0000807863-22-000065
CIK 0000807863other
Filed
Mar 22, 8:00 PM ET
Accepted
Mar 23, 9:23 PM ET
Size
10.0 KB
Accession
0000807863-22-000065
Insider Transaction Report
Form 4
Gray Jason
GC, Secretary & Admin Officer
Transactions
- Exercise/Conversion
Performance Restricted Stock Units
2022-03-21−8,939→ 22,250 total→ Common Stock (8,939 underlying) - Sale
Common Stock
2022-03-22$14.20/sh−3,589$50,964→ 118,921 total - Exercise/Conversion
Common Stock
2022-03-21+8,939→ 121,345 total
Footnotes (5)
- [F1]Performance restricted stock units convert into common stock on a one-for-one basis.
- [F2]Represents the disposition of shares that were automatically sold by Mitek Systems, Inc. to pay withholding taxes upon the vesting of 8,939 performance restricted stock units.
- [F3]Includes 1,165 shares acquired under the Mitek employee stock purchase plan on February 15, 2022 in a transaction that was exempt under both Rule 16b-3(d) and Rule 16b-3(c).
- [F4]On March 20, 2020, the reporting person was granted restricted stock units 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.
- [F5]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. The performance criteria for the second Performance Period was met, resulting in the vesting of 33% of the Performance RSUs.
Documents
Issuer
MITEK SYSTEMS INC
CIK 0000807863
Entity typeother
Related Parties
1- filerCIK 0001577363
Filing Metadata
- Form type
- 4
- Filed
- Mar 22, 8:00 PM ET
- Accepted
- Mar 23, 9:23 PM ET
- Size
- 10.0 KB