4//SEC Filing
BROADSOFT, INC. 4
Accession 0001209191-16-129969
CIK 0001086909operating
Filed
Jun 27, 8:00 PM ET
Accepted
Jun 28, 7:51 PM ET
Size
10.7 KB
Accession
0001209191-16-129969
Insider Transaction Report
Form 4
BROADSOFT, INC.BSFT
Tholen James Albert
Chief Financial Officer
Transactions
- Exercise/Conversion
Common Stock
2016-06-24+13,750→ 67,844 total - Tax Payment
Common Stock
2016-06-24$41.04/sh−4,379$179,714→ 63,465 total - Exercise/Conversion
Performance Stock Units
2016-06-24−13,750→ 0 totalExp: 2023-02-15→ Common Stock (13,750 underlying)
Footnotes (5)
- [F1]As previously reported on a Form 4 filed on February 20, 2013, the Reporting Person was granted a series of performance stock units ("PSUs") representing a contingent right to receive one share of the Issuer's common stock, subject to the satisfaction of both (i) a performance-based vesting condition (the "Performance-Based Vesting Condition"); and (ii) a time-based vesting condition (the "Time-Based Vesting Condition").
- [F2]Represents the satisfaction, on June 24, 2016, of the Performance-Based Vesting Condition with respect to the first tranche of 13,750 PSUs as described in footnote (5), converting such PSUs to time-based restricted stock units. Based on the status of the Time-Based Vesting Condition of the award, an aggregate of 11,171 shares subject to the PSUs vested on June 24, 2016. The remaining 2,579 shares subject to this tranche of PSUs vest in three equal quarterly installments through February 15, 2017.
- [F3]The transaction reported represents the withholding of shares by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting and settlement of the 11,171 shares, as described in footnote (2).
- [F4]The Time-Based Vesting Condition of each PSU was satisfied as to 25% of the PSUs as of February 15, 2014 and, will be satisfied as to the remaining PSUs in 12 equal quarterly installments thereafter, in all cases so long as there has been no break in the Reporting Person's continuous service through such date.
- [F5]The Performance-Based Vesting Condition of these PSUs would be satisfied if, prior to February 15, 2017, the average closing sales price of the Issuer's common stock for 120 consecutive calendar days equals or exceeds $40 per share or a change in control of the Issuer occurs at a price equal to or greater than $40 per share. The Performance-Based Vesting Condition was satisfied on June 24, 2016.
Documents
Issuer
BROADSOFT, INC.
CIK 0001086909
Entity typeoperating
Related Parties
1- filerCIK 0001086909
Filing Metadata
- Form type
- 4
- Filed
- Jun 27, 8:00 PM ET
- Accepted
- Jun 28, 7:51 PM ET
- Size
- 10.7 KB