RingCentral Inc 4
4 · RingCentral Inc · Filed Sep 30, 2013
Insider Transaction Report
Form 4
Berman David Mark
President
Transactions
- Other
Employee Stock Option (right to buy)
2013-09-26−768,000→ 0 totalExercise: $10.42From: 2013-06-12Exp: 2023-06-12→ Common Stock (768,000 underlying) - Other
Common Stock
2013-09-26−25,000→ 0 total - Other
Class B Common Stock
2013-09-26+25,000→ 25,000 total→ Class A Common Stock (25,000 underlying) - Other
Employee Stock Option (right to buy)
2013-09-26+768,000→ 768,000 totalExercise: $10.42From: 2013-06-12Exp: 2023-06-12→ Class B Common Stock (768,000 underlying)
Footnotes (4)
- [F1]Pursuant to a reclassification exempt under Rule 16b-7, each share of Common Stock automatically converted into one share of Class B Common Stock on September 26, 2013.
- [F2]Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of Class A Common Stock and has no expiration date. In addition, each share of Class B Common Stock held by a shareholder will convert automatically into one share of Class A Common Stock upon (i) any transfer of such share (subject to certain exceptions), or (ii) the death of a natural person holding such share. In addition, each share of Class B Common Stock outstanding will convert automatically into one share of Class A Common stock upon (i) the date specified by the holders of at least 67% of the outstanding shares of Class B Common Stock, (ii) the date on which the number of outstanding shares of Class B Common Stock represents less than 10% of the aggregate combined number of outstanding shares of Class A Common Stock and Class B Common Stock or (iii) the seven-year anniversary of the closing date of the Issuer's initial public offering (subject to certain exceptions).
- [F3]Pursuant to a reclassification exempt under Rule 16b-7, each share of Common Stock underlying the reported option automatically converted into one share of Class B Common Stock on September 26, 2013.
- [F4]The option was immediately exercisable on date of grant. 25% of the shares subject to the option vest on 6/10/2014, and 1/48th of the shares vest each month thereafter over the following 36 months.