Gaglione Philippe 4
4 · SILVER SPRING NETWORKS INC · Filed Nov 14, 2017
Insider Transaction Report
Form 4
Gaglione Philippe
EVP, Research & Development
Transactions
- Sale
Common Stock
2017-11-10$16.12/sh−24,518$395,230→ 2,926 total - Exercise/Conversion
Common Stock
2017-11-10+4,688→ 29,206 total - Tax Payment
Common Stock
2017-11-10$16.13/sh−1,762$28,421→ 27,444 total - Exercise/Conversion
Restricted Stock Units
2017-11-10−4,688→ 46,875 totalExercise: $0.00→ Common Stock (4,688 underlying)
Footnotes (5)
- [F1]Vesting of restricted stock units ("RSUs") granted to the Reporting Person on May 10, 2016.
- [F2]Includes shares acquired by the Reporting Person under the Issuer's employee stock purchase plan on August 14, 2017.
- [F3]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 on this line 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 line for any reason other than to cover required taxes.
- [F4]Each RSU represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
- [F5]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.