4//SEC Filing
PMC SIERRA INC 4
Accession 0001209191-16-092269
CIK 0000767920operating
Filed
Jan 18, 7:00 PM ET
Accepted
Jan 19, 9:07 PM ET
Size
25.2 KB
Accession
0001209191-16-092269
Insider Transaction Report
Form 4
PMC SIERRA INCPMCS
LANG GREGORY S
DirectorPresident and CEO
Transactions
- Disposition to Issuer
Stock Options (right to buy)
2016-01-15−178,383→ 0 totalExercise: $7.22→ Common Stock (178,383 underlying) - Disposition to Issuer
Stock Options (right to buy)
2016-01-15−800,000→ 0 totalExercise: $8.06→ Common Stock (800,000 underlying) - Award
Performance Restricted Stock Units
2016-01-15+320,309→ 0 total→ Common Stock (320,309 underlying) - Disposition to Issuer
Stock Options (right to buy)
2016-01-15−284,392→ 0 totalExercise: $6.65→ Common Stock (284,392 underlying) - Disposition to Issuer
Stock Options (right to buy)
2016-01-15−175,000→ 0 totalExercise: $6.53→ Common Stock (175,000 underlying) - Disposition to Issuer
Performance Restricted Stock Units
2016-01-15−363,659→ 0 total→ Common Stock (363,659 underlying) - Disposition to Issuer
Stock Options (right to buy)
2016-01-15−143,369→ 0 totalExercise: $6.87→ Common Stock (143,369 underlying) - Disposition to Issuer
Stock Options (right to buy)
2016-01-15−122,625→ 0 totalExercise: $5.71→ Common Stock (122,625 underlying) - Disposition to Issuer
Restricted Stock Units
2016-01-15−207,733→ 0 total→ Common Stock (207,733 underlying)
Footnotes (4)
- [F1]Disposed of pursuant to the Merger Agreement and the Merger, whereby each Issuer stock option was cancelled and automatically converted into a combination of cash and Microsemi common stock that together equal the positive difference, if any, between the dollar value of the Per Share Amount and the exercise price applicable to the Issuer stock option, multiplied by the number of shares of Issuer common stock for which the Issuer stock option was exercisable, less any amount required to be withheld.
- [F2]This Restricted Stock Unit award (the "RSU") was assumed and converted in the Merger into that number of Microsemi restricted stock units of Microsemi common stock, rounded down to the nearest whole share ("Converted RSUs"), equal to the product of (x) the number of shares of Issuer common stock subject to such Issuer RSU and (y) the sum of (A) 0.0771 and (B) the quotient obtained by dividing (i) $9.22 by (ii) the volume weighted average trading price of Microsemi common stock on Nasdaq for the five (5) consecutive trading days ending on January 14, 2016 (the sum, the "Equity Conversion Ratio," calculated to equal 0.3734). Any Converted RSU is subject to the same terms and conditions as were applicable under such Issuer RSU. Each Converted RSU that vests after the effective time of the Merger will be settled in shares of Microsemi common stock, unless settled by a cash payment equal to the value of such shares, as provided in the Merger Agreement.
- [F3]Until the Merger, the Reporting Person's right to this Performance Restricted Stock Unit award (the "PRSU") remained subject to the satisfaction of certain performance criteria.
- [F4]This PRSU was assumed and converted in the Merger into a number of restricted stock units of Microsemi common stock, rounded down to the nearest whole share ("Converted PRSUs"), equal to the product of (x) the number of shares of Issuer common stock subject to such Issuer PRSU, assuming achievement of target-level performance with respect to each performance period, performance cycle or measurement cycle applicable to such Issuer PRSU and (y) the Equity Conversion Ratio (calculated to equal 0.3734). Each Converted PRSU that vests after the effective time of the Merger will be settled in shares of Microsemi common stock, unless settled by a cash payment equal to the value of such shares, as provided in the Merger Agreement.
Documents
Issuer
PMC SIERRA INC
CIK 0000767920
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0000767920
Filing Metadata
- Form type
- 4
- Filed
- Jan 18, 7:00 PM ET
- Accepted
- Jan 19, 9:07 PM ET
- Size
- 25.2 KB