Pandora Media, Inc. 4
4 · Pandora Media, Inc. · Filed Apr 19, 2016
Insider Transaction Report
Form 4
Herring Michael S
Chief Financial Officer
Transactions
- Award
Common Stock
2016-04-15+225,000→ 350,766 total - Award
Performance-Based Restricted Stock Units
2016-04-15+225,000→ 225,000 total→ Common Stock (225,000 underlying)
Footnotes (3)
- [F1]25% of the RSUs vest on 2/15/2017 and thereafter 1/16th of the RSUs vest quarterly.
- [F2]Each performance-based restricted stock unit ("PSU") represents a contingent right to receive one share of Pandora Media, Inc. ("Pandora") common stock.
- [F3]25% of the PSUs will vest on 2/15/2017 and thereafter 1/16th of the PSUs will vest quarterly, but only if the 90-day trailing average of Pandora's common stock price equals or exceeds $20.00 (the "Target") on a given vesting date. If the Target is not met on a given vesting date, then the shares scheduled to vest as of such date will remain unvested until the next vesting date on which the Target has been met. Any shares that remained unvested as of the final vesting date will be cancelled by Pandora and forfeited.