CITTADINI PETER I 4
4 · ACTUATE CORP · Filed May 24, 2013
Insider Transaction Report
Form 4
ACTUATE CORPACTU
CITTADINI PETER I
President and CEO
Transactions
- Award
Performance Right
2013-04-23+200,000→ 200,000 totalFrom: 2014-12-31→ Common Stock (200,000 underlying)
Footnotes (3)
- [F1]Each performance right represents a contingent right to receive one share of the Company's common stock; the number indicated represents the maximum number of performance rights that can be earned by the reporting person.
- [F2]The performance-vesting requirement is tied to (i) the total shareholder return to the Company's shareholders for the 2-year performance period beginning January 1, 2013 and ending on December 31, 2014 (the "first period") in relation to the total shareholder return realized for that same period by the companies comprising the Russell 2000 Index and (ii) the total shareholder return to the Company's shareholders for the 2-year performance period beginning on January 1, 2014 and ending on December 31, 2015 (the "second period").
- [F3]The actual number of shares of the Company's common stock into which the performance shares will convert for each period is calculated by multiplying the target number of performance shares (100,000 shares) by a percentage ranging from 0% to 100% based on the actual level at which the performance goal is attained.