4//SEC Filing
Diamond Michael E 4
Accession 0000807863-23-000156
CIK 0000807863other
Filed
Dec 11, 7:00 PM ET
Accepted
Dec 12, 1:56 PM ET
Size
14.8 KB
Accession
0000807863-23-000156
Insider Transaction Report
Form 4
Diamond Michael E
Chief Revenue Officer
Transactions
- Sale
Common Stock
2023-12-01$11.07/sh−1,996$22,096→ 273,546 total - Sale
Common Stock
2023-12-07$10.86/sh−2,473$26,857→ 269,308 total - Sale
Common Stock
2023-12-07$10.86/sh−1,765$19,168→ 271,781 total - Exercise/Conversion
Common Stock
2023-11-30+9,018→ 275,542 total - Exercise/Conversion
Performance Restricted Stock Units
2023-11-30−9,018→ 90,051 total→ Common Stock (9,018 underlying) - Sale
Common Stock
2023-12-07$10.86/sh−3,004$32,623→ 266,304 total
Footnotes (8)
- [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 the Issuer to pay withholding taxes upon the vesting of 6,109 restricted stock units.
- [F3]Represents the disposition of shares that were automatically sold by the Issuer to pay withholding taxes upon the vesting of 5,349 performance restricted stock units.
- [F4]Represents the disposition of shares that were automatically sold by the Issuer to pay withholding taxes upon the vesting of 7,470 performance restricted stock units.
- [F5]Represents the disposition of shares that were automatically sold by the Issuer to pay withholding taxes upon the vesting of 9,018 performance restricted stock units.
- [F6]On November 28, 2022, the reporting person was granted restricted stock units under the Issuer'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.
- [F7]The annual performance criteria for each annual Performance Period shall be for the % increase in value of the Issuer'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.
- [F8]Additionally, a portion of the Performance RSUs may vest during a later Performance Period if the cumulative % increase in value of the Issuer's 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 0001590840
Filing Metadata
- Form type
- 4
- Filed
- Dec 11, 7:00 PM ET
- Accepted
- Dec 12, 1:56 PM ET
- Size
- 14.8 KB