4//SEC Filing
CYAN INC 4
Accession 0000899243-15-002146
CIK 0001391636operating
Filed
Aug 2, 8:00 PM ET
Accepted
Aug 3, 8:09 PM ET
Size
13.4 KB
Accession
0000899243-15-002146
Insider Transaction Report
Form 4
CYAN INCCYNI
Transactions
- Disposition to Issuer
Performance Restricted Stock Units
2015-08-03−90,909→ 0 total→ Common Stock (90,909 underlying) - Disposition to Issuer
Common Stock
2015-08-03−207,513→ 0 total - Disposition to Issuer
Employee Stock Option (right to buy)
2015-08-03−400,000→ 0 totalExercise: $4.22Exp: 2024-03-28→ Common Stock (400,000 underlying) - Award
Performance Restricted Stock Units
2015-08-03+90,909→ 90,909 total→ Common Stock (90,909 underlying)
Footnotes (7)
- [F1]Of the reported securities, 154,546 shares are represented by restricted stock units.
- [F2]Pursuant to the Merger Agreement between the Issuer and Ciena Corporation ("Ciena") dated May 3, 2015, as amended (the "Merger Agreement"), each share of Issuer common stock will be exchanged for $0.63 in cash and 0.19936 shares of Ciena common stock.
- [F3]Pursuant to the Merger Agreement, the restricted stock units will be assumed by Ciena and converted into a restricted stock unit for 0.224 shares of Ciena common stock per share of Issuer common stock.
- [F4]One-fourth of the shares subject to the option vested on March 28, 2015 and the remaining shares vest monthly thereafter for 36 months. Pursuant to the Merger Agreement, the option will be assumed by Ciena and converted into an option to purchase 0.224 shares of Ciena common stock for each share of Issuer common stock at an exercise price equal to the current exercise price divided by 0.224 per share.
- [F5]Each performance restricted stock unit represents a contingent right to receive one share of Issuer common stock.
- [F6]The performance restricted stock units are subject to the achievement of certain performance objectives relating to 2015 revenue goals. To the extent the applicable performance goals are achieved, 50% of performance restricted stock units are scheduled to vest on the date the achievement of the performance goals are certified after completion of the performance period and the remaining 50% are scheduled to vest on the first business day in 2017.
- [F7]Pursuant to the Merger Agreement, the performance restricted stock units will be assumed by Ciena and converted into a performance restricted stock unit for 0.224 shares of Ciena common stock per share of Issuer common stock.
Documents
Issuer
CYAN INC
CIK 0001391636
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001391636
Filing Metadata
- Form type
- 4
- Filed
- Aug 2, 8:00 PM ET
- Accepted
- Aug 3, 8:09 PM ET
- Size
- 13.4 KB