LANTRONIX INC 4
4 · LANTRONIX INC · Filed Sep 3, 2015
Insider Transaction Report
Form 4
LANTRONIX INCLTRX
Busch Kurt
President and CEO
Transactions
- Award
Performance-based Restricted Stock Units
2015-09-01+50,000→ 50,000 total→ Common Stock (50,000 underlying)
Footnotes (1)
- [F1]Each performance-based restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of Lantronix, Inc. (the "Company") subject to the achievement by the Company of performance targets for the fiscal year ending June 30, 2016 ("Fiscal 2016"). If the Company achieves the performance targets for Fiscal 2016: (a) fifty percent (50%) of the RSUs will vest on September 1, 2016, and (b) the remaining fifty percent (50%) of the RSUs will vest in four equal quarterly installments beginning on December 1, 2016, in each case, as long as the individual remains a service provider to the Company through the applicable vesting date.