KENNARD PAUL 4
4 · AVIAT NETWORKS, INC. · Filed Nov 15, 2010
Insider Transaction Report
Form 4
KENNARD PAUL
SVP, Chief Technology Officer
Transactions
- Award
Common Stock
2010-11-11+27,500→ 90,296 total - Award
Common Stock
2010-11-11+27,500→ 117,796 total - Award
Non-Qualified Stock Option (right to buy)
2010-11-11+55,000→ 237,040 totalExercise: $4.36Exp: 2017-11-11→ Common Stock (55,000 underlying)
Footnotes (3)
- [F1]Performance shares, which are subject to vesting. Vesting requires both (a) continuing employment with the Corporation through the end of the Corporation's fiscal year 2013 (approximately June 30, 2013), and (b) achievement of at least the minimum cumulative performance result for the three-year period set forth in the Specific Terms and Conditions. Unvested performance shares are subject to repurchase by the Corporation at $0.01 per share if eligible employment ends or, following the determination of actual Corporation performance versus metrics, to the extent such performance shares do not vest.
- [F2]Restricted shares, which are subject to vesting. Vesting requires continuing employment with the Corporation as of the vesting dates. Restricted shares will vest as follows: 33.3% on November 11, 2011, 33.3% on November 11, 2012 and 33.3% on November 11, 2013. Unvested shares are subject to repurchase by the Corporation at $0.01 per share if eligible employment ends before the vesting date.
- [F3]Stock options to purchase shares become exercisable if employment with the Corporation continues through the vesting dates. The options will vest as follows: 50% on November 11, 2011, 25% on November 11, 2012 and 25% on November 11, 2013.