4//SEC Filing
Tessler Michael 4
Accession 0001209191-18-007737
CIK 0001086909other
Filed
Feb 4, 7:00 PM ET
Accepted
Feb 5, 9:39 PM ET
Size
9.9 KB
Accession
0001209191-18-007737
Insider Transaction Report
Form 4
BROADSOFT, INC.BSFT
Tessler Michael
DirectorPresident & CEO
Transactions
- Award
Common Stock
2018-02-01+67,205→ 288,134 total - Disposition to Issuer
Common Stock
2018-02-01$55.00/sh−288,134$15,847,370→ 0 total - Disposition to Issuer
Employee Stock Option (Right to Buy)
2018-02-01$52.60/sh−132,584$6,973,918→ 0 totalExercise: $2.40Exp: 2019-06-10→ Common Stock (132,584 underlying)
Footnotes (3)
- [F1]In connection with the transactions contemplated by the Merger Agreement (as defined below), certain previously unvested performance stock units were converted into time-based vesting awards immediately prior to the closing of the Merger. Following the completion of the Merger, these awards represent the right to receive the merger consideration of $55 per share, with such cash payment subject to time-based vesting. Because of the performance-based vesting conditions of these performance stock units, these awards were not previously considered derivative securities for purposes of Section 16 of the Exchange Act and, therefore, were not previously reported pursuant to Section 16.
- [F2]Disposed of pursuant to the Agreement and Plan of Merger, dated as of October 20, 2017, by and among Cisco Systems, Inc. ("Cisco"), Brooklyn Acquisition Corp., a wholly-owned subsidiary of Cisco, and the Issuer (the "Merger Agreement") (the "Merger") in exchange for $55 per share on the effective date of the Merger.
- [F3]Pursuant to the Merger Agreement, this option was canceled in the Merger in exchange for a cash payment of $52.60 per share, representing the difference between the exercise price of the option and the merger consideration of $55 per share.
Documents
Issuer
BROADSOFT, INC.
CIK 0001086909
Entity typeother
Related Parties
1- filerCIK 0001488201
Filing Metadata
- Form type
- 4
- Filed
- Feb 4, 7:00 PM ET
- Accepted
- Feb 5, 9:39 PM ET
- Size
- 9.9 KB