BRONSON STEVEN N 4
4 · QUALSTAR CORP · Filed Oct 31, 2019
Insider Transaction Report
Form 4
QUALSTAR CORPQBAK
BRONSON STEVEN N
10% Owner
Transactions
- Award
Restricted Stock Units (''RSUs'')
2019-10-29+50,000→ 50,000 total→ Common Stock (50,000 underlying)
Footnotes (2)
- [F1]Each restricted stock unit represents a contingent right to one share of Qualstar Corporation common stock.
- [F2]For each of the fiscal years ended December 31, 2019 and December 31, 2020, RSUs for 25,000 shares of the Company's Common Stock shall vest and become issuable subject to the Company's achievement of financial and performance objectives for the applicable fiscal year established by the Compensation Committee of the Company's Board of Directors. Whether recipient's RSUs for the applicable fiscal year become vested and issuable shall be determined solely in the discretion of the Compensation Committee, or if such committee does not then exist at the time of determination, the Company's Board of Directors (excluding Executive). Subject to Sections 9.7(b) and 9.7(d) of that certain Employment Agreement entered into on April 13, 2019 by and between the Company and Steven N. Bronson, any such RSUs shall not be earned by or vest in recipient until the date such number, if any, is determined by the Compensation Committee.