ADTRAN INC 4
4 · ADTRAN INC · Filed Nov 15, 2016
Insider Transaction Report
Form 4
ADTRAN INCADTN
Schansman Raymond R
Sr VP and GM Enterprise Div
Transactions
- Award
Common Stock
2016-11-12+6,408→ 6,408 total - Award
Phantom Stock
2016-11-12+3,100→ 14,438.421 total→ Common stock (3,100 underlying)
Footnotes (4)
- [F1]Represents a grant of restricted stock units that vest in four equal and annual installments beginning on the first anniversary date of the grant.
- [F2]Each share of phantom stock represents a right to receive one share of common stock or the cash value thereof.
- [F3]The phantom stock becomes payable 6 months after the reporting person's separation of service with the Company. The reporting person may transfer his phantom stock account into an alternative investment at any time.
- [F4]Upon vesting of performance shares awarded pursuant to a grant of November 2, 2013 under the ADTRAN, Inc. 2006 Employee Stock Incentive Plan, the reporting person deferred the receipt of shares of the Company's common stock and received instead shares of phantom stock pursuant to the Company's deferred compensation plan.