4//SEC Filing
AVICI SYSTEMS INC 4
Accession 0001072613-07-001329
CIK 0001094895operating
Filed
Jun 12, 8:00 PM ET
Accepted
Jun 13, 6:44 PM ET
Size
10.1 KB
Accession
0001072613-07-001329
Insider Transaction Report
Form 4
Stuart William John
Sr. VP of Finance and CFO
Transactions
- Other
Stock Option (Right to Purchase)
2007-06-11+104,000→ 104,000 totalExercise: $6.08Exp: 2017-05-03→ Common Stock (104,000 underlying) - Other
Stock Option (Right to Purchase)
2007-06-11+84,500→ 84,500 totalExercise: $7.31Exp: 2016-08-28→ Common Stock (84,500 underlying)
Footnotes (6)
- [F1]This option was previously reported by the reporting person as an option for 65,000 shares of common stock at an exercise price of $9.50, 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).
- [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 shall vest on August 28, 2007, the first anniversary of the grant date, and the remainder of the option shall vest in equal monthly installments of 2.0833%.
- [F5]This option was previously reported by the reporting person as an option for 80,000 shares of common stock at an exercise price of $7.91, but has been adjusted as described in footnotes 1 and 2.
- [F6]The option vests in equal monthly installments of 2.0833% beginning on June 3, 2007.
Documents
Issuer
AVICI SYSTEMS INC
CIK 0001094895
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001094895
Filing Metadata
- Form type
- 4
- Filed
- Jun 12, 8:00 PM ET
- Accepted
- Jun 13, 6:44 PM ET
- Size
- 10.1 KB