AVICI SYSTEMS INC 4

Accession 0001072613-07-001325

CIK 0001094895operating

View on SEC.gov Company Profile

Filed

Jun 12, 8:00 PM ET

Accepted

Jun 13, 6:43 PM ET

Size

15.4 KB

Accession

0001072613-07-001325

Insider Transaction Report

Form 4

Period: 2007-06-11

AVICI SYSTEMS INCAVCI

Leighton William J. III

DirectorChief Executive Officer

Transactions

Other
Stock Option (Right to Purchase)
2007-06-11+156,000→ 156,000 total
Exercise: $6.08Exp: 2017-05-03→ Common Stock (156,000 underlying)
Other
Stock Option (Right to Purchase)
2007-06-11+1,625→ 1,625 total
Exercise: $7.87Exp: 2014-07-20→ Common Stock (1,625 underlying)
Other
Stock Option (Right to Purchase)
2007-06-11+390,000→ 390,000 total
Exercise: $3.55Exp: 2015-04-27→ Common Stock (390,000 underlying)
Other
Stock Option (Right to Purchase)
2007-06-11+11,375→ 11,375 total
Exercise: $8.18Exp: 2014-05-26→ Common Stock (11,375 underlying)

Footnotes (10)

[F1]This option was previously reported by the reporting person as an option for 8,750 shares of common stock at an exercise price of $10.63, but has been adjusted as approved on June 8, 2007 by the Company's Compensation Committee in connection with a special dividend of $2.00 per share declared on April 18, 2007 and payable on June 22, 2007 to shareholders of record at the close of business on June 11, 2007. The exercise price of each outstanding stock option was adjusted to maintain the same ratio of exercise price to fair market value before and after the adjustment. Fair market value for purposes of adjusting the exercise price of the stock options was established by comparing the closing share price of the Company's common stock measured on June 6, 2007, the day before the ex-dividend date ($9.49), with the opening share price of the Company's common stock measured on June 7, 2007, the ex-dividend date ($7.30).
[F10]The option vests in equal monthly installments of 2.0833% beginning on June 3, 2007.
[F2]The number of stock options subject to each outstanding award was increased proportionately to ensure the economic value of the award was the same before and after the adjustment.
[F3]The number includes the number of unexercised options from the previously granted stock option award as well as the additional stock options resulting from the adjustment to such options.
[F4]25% of the option vests on May 26, 2005, the one-year anniversary of the grant, and the balance vests in three equal annual installments of 25% on the anniversary of the grant date.
[F5]This option was previously reported by the reporting person as an option for 1,250 shares of common stock at an exercise price of $10.23, but has been adjusted as described in footnotes 1 and 2.
[F6]33.33% of the option vests on July 20, 2004, the grant date, and the balance vests in four equal annual installments of 16.67% on the anniversary of the grant date, or if earlier, the day immediately prior to the annual meeting date in each particular year the installment vests.
[F7]This option was previously reported by the reporting person as an option for 300,000 shares of common stock at an exercise price of $4.62, but has been adjusted as described in footnotes 1 and 2.
[F8]The option vests in equal monthly installments of 2.0833% beginning on May 27, 2005.
[F9]This option was previously reported by the reporting person as an option for 120,000 shares of common stock at an exercise price of $7.91, but has been adjusted as described in footnotes 1 and 2.

Documents

1 file

4
pro-leighton_15213ex.xmlPrimary

Issuer

AVICI SYSTEMS INC

CIK 0001094895

→

Entity typeoperating

IncorporatedDE

Related Parties

filerCIK 0001094895

Filing Metadata

Form type: 4
Filed: Jun 12, 8:00 PM ET
Accepted: Jun 13, 6:43 PM ET
Size: 15.4 KB

View on SEC.gov