COGGINS MARK 4
4 · ACTUATE CORP · Filed Jan 27, 2010
Insider Transaction Report
Form 4
ACTUATE CORPACTU
COGGINS MARK
SVP, Engineering
Transactions
- Award
Common Stock
2010-01-26+6,750→ 6,750 total - Award
Option (right to buy)
2010-01-26+76,500→ 691,500 totalExercise: $4.80From: 2011-01-26Exp: 2020-01-25→ Common Stock (76,500 underlying)
Footnotes (3)
- [F1]Represents shares of the Issuer's common stock underlying restricted stock units ("RSUs") awarded to the Reporting Person. The RSUs will vest in a series of four successive equal annual installments, with the first installment to vest on February 26, 2011 and the remaining installments to vest on the second, third and fourth anniversaries of the January 26, 2010 award date, provided the Reporting Person remains in the Issuer's service through each such date, subject to accelerated vesting upon the Reporting Person's termination of employment under certain prescribed circumstances within 12 months following certain changes in ownership or control of the Issuer or during the period commencing with the Issuer's execution of a definitive agreement to effect a change in control and ending on the earlier to occur of (i) the closing of the change in control transaction or (ii) the termination of such definitive agreement.
- [F2]Unless the Reporting Person elects to defer the issuance of the shares until the Reporting Person's separation from service from the Issuer, the shares of the Issuer's common stock will be issued as the RSUs vest.
- [F3]Option becomes exercisable as to 1/4 of the option shares after one year from the vesting commencement date and for the balance in a series of equal monthly installments over the following 36 months.