KENNARD PAUL 4
4 · AVIAT NETWORKS, INC. · Filed Oct 5, 2012
Insider Transaction Report
Form 4
KENNARD PAUL
SVP, Chief Technology Officer
Transactions
- Disposition to Issuer
Common Stock
2012-08-29−18,333→ 158,706 total - Award
Employee Stock Option (right to buy
2012-10-03+48,721→ 315,876 totalExercise: $2.28Exp: 2019-10-03→ Common Stock (48,721 underlying) - Award
Common Stock
2012-10-03+56,966→ 177,039 total
Footnotes (3)
- [F1]Performance shares, which are subject to vesting. Vesting requires both (a) continuing employment with the Corporation through the end of the Corporation's fiscal year 2013 (approximately June 29, 2013), and (b) achievement of at least the minimum performance result for the one-year period set forth in the Specific Terms and Conditions. Unvested performance shares are subject to repurchase by the Corporation at $0.01 per share if eligible employment ends or, following the determination of actual Corporation performance versus metrics, to the extent such performance shares do not vest.
- [F2]Performance shares subject to vesting based on the achievement of certain performance targets by the Corporation during the Corporation's fiscal years 2011. The performance targets were not achieved, and as a result, all of the performance shares were repurchased by the Corporation.
- [F3]Stock options to purchase shares become exercisable if employment with the Corporation continues through the vesting dates. The options will vest as follows: 50% on October 3, 2013, 25% on October 3, 2014 and 25% on October 3, 2015.