SILVER SPRING NETWORKS INC 4
4 · SILVER SPRING NETWORKS INC · Filed Aug 13, 2013
Insider Transaction Report
Form 4
JOYCE JOHN R
Vice Chairman & CFO
Transactions
- Exercise/Conversion
Common Stock
2013-08-10+234→ 32,373 total - Exercise/Conversion
Restricted Stock Units
2013-08-10−234→ 2,579 totalExercise: $0.00→ Common Stock (234 underlying) - Tax Payment
Common Stock
2013-08-10$30.35/sh−107$3,247→ 32,266 total
Footnotes (4)
- [F1]Release and settlement of restricted stock units ("RSUs") granted to the Reporting Person on March 12, 2013, the grant of which was previously reported on a Form 4 by the Reporting Person.
- [F2]Exempt transaction pursuant to Section 16b-3(e) for payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were relinquished to the Issuer by the Reporting Person and cancelled by the Issuer in exchange for the Issuer's agreement to pay federal and state tax withholding obligations of the Reporting Person resulting from the vesting of RSUs. The Reporting Person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than to cover required taxes.
- [F3]Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement for no consideration.
- [F4]25% of the RSUs vested on May 10, 2013 and thereafter shall vest quarterly as to 6.25% of the total RSUs with the first 6.25% vesting on August 10, 2013. Shares of the Issuer's common stock will be delivered to the Reporting Person following vesting.