4//SEC Filing
SILVER SPRING NETWORKS INC 4
Accession 0001140361-17-020181
CIK 0001180079operating
Filed
May 11, 8:00 PM ET
Accepted
May 12, 7:13 PM ET
Size
14.3 KB
Accession
0001140361-17-020181
Insider Transaction Report
Form 4
Gaglione Philippe
EVP, Research & Development
Transactions
- Exercise/Conversion
Common Stock
2017-05-10+18,750→ 27,640 total - Exercise/Conversion
Restricted Stock Units
2017-05-10−18,750→ 56,250 totalExercise: $0.00→ Common Stock (18,750 underlying) - Award
Restricted Stock Units
2017-05-10+51,463→ 51,463 totalExercise: $0.00→ Common Stock (51,463 underlying) - Tax Payment
Common Stock
2017-05-10$11.66/sh−7,047$82,168→ 20,593 total - Award
Performance Stock Unit
2017-05-10+30,249→ 30,249 totalExercise: $0.00→ Common Stock (30,249 underlying)
Footnotes (6)
- [F1]Vesting of restricted stock units ("RSUs") granted to the Reporting Person on May 10, 2016.
- [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 or performance stock unit ("PSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
- [F4]25% of the RSUs vested on May 10, 2017 and thereafter shall vest quarterly as to 1/16th of the total RSUs in equal installments with the first 1/16th vesting on August 10, 2017. Shares of the Issuer's common stock will be delivered to the Reporting Person following vesting.
- [F5]25% of the RSUs vest on May 10, 2018 and thereafter shall vest quarterly as to 6.25% of the total RSUs with the first 6.25% vesting on August 10, 2018. Shares of the Issuer's common stock will be delivered to the Reporting Person following vesting.
- [F6]The PSUs will be eligible to vest based on the achievement of an internal financial performance metric, and if the performance metric is achieved thereafter the award is subject to time based vesting over 3 years with 1/3 vesting on each anniversary of the date of grant.
Documents
Issuer
SILVER SPRING NETWORKS INC
CIK 0001180079
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001180079
Filing Metadata
- Form type
- 4
- Filed
- May 11, 8:00 PM ET
- Accepted
- May 12, 7:13 PM ET
- Size
- 14.3 KB