4//SEC Filing
Carter Adam 4
Accession 0001214659-18-007607
CIK 0001110647other
Filed
Dec 9, 7:00 PM ET
Accepted
Dec 10, 5:00 PM ET
Size
26.4 KB
Accession
0001214659-18-007607
Insider Transaction Report
Form 4
OCLARO, INC.OCLR
Carter Adam
Chief Commercial Officer
Transactions
- Disposition to Issuer
Common Stock
2018-12-10−347,659→ 0 total - Disposition to Issuer
Restricted Stock Units
2018-12-10−30,625→ 0 total→ Common Stock (30,625 underlying) - Disposition to Issuer
Restricted Stock Units
2018-12-10−27,500→ 0 total→ Common Stock (27,500 underlying) - Award
Common Stock
2018-12-06+60,000→ 423,889 total - Tax Payment
Common Stock
2018-12-06$8.44/sh−76,230$643,381→ 347,659 total - Disposition to Issuer
Restricted Stock Units
2018-12-10−30,625→ 0 total→ Common Stock (30,625 underlying) - Disposition to Issuer
Restricted Stock Units
2018-12-10−60,000→ 0 total→ Common Stock (60,000 underlying) - Disposition to Issuer
Stock Options (Right to Buy)
2018-12-10−100,000→ 0 totalExercise: $1.69Exp: 2024-08-15→ Common Stock (100,000 underlying) - Disposition to Issuer
Restricted Stock Units
2018-12-10−5,000→ 0 total→ Common Stock (5,000 underlying)
Footnotes (15)
- [F1]Represents 60,000 Oclaro, Inc. ("Oclaro") performance-based restricted stock units (the "PSUs") granted on August 10, 2017 that vested in full at the Effective Time (as defined below). On March 11, 2018, the Compensation Committee of Oclaro determined that, contingent upon the occurrence of the Effective Time, the underlying performance milestones for such PSUs would be deemed achieved based on the maximum level of achievement (150% of target), with vesting continuing through August 2020.
- [F10]On August 10, 2017, Mr. Carter was granted 40,000 RSUs, vesting in 25% on the one year anniversary of the date of grant and 6.25% every February 10th, May 10th, August 10th and November 10th the Initial Vesting Date over the three years of continuous service thereafter.
- [F11]Pursuant to the terms of the Merger Agreement, the vesting of 60,000 PSUs granted on August 10, 2017 was accelerated immediately prior to the Effective Time. In accordance with the Merger Agreement, such PSUs were converted into the right to receive the Merger Consideration in respect of each Oclaro share underlying such award.
- [F12]On August 10, 2017, Mr. Carter was issued a grant of up to 60,000 PSUs, vesting 25% on the one year anniversary of the date of grant and 6.25% every February 10th, May 10th, August 10th and November 10th the Initial Vesting Date over the three years of continuous service thereafter.
- [F13]Pursuant to the terms of the award agreement and the Merger Agreement, the vesting of 5,000 RSUs granted on August 1, 2018 was accelerated immediately prior to the Effective Time. In accordance with the Merger Agrement, such RSUs were converted into the right to receive the Merger Consideration in respect of each Oclaro share underlying such award.
- [F14]On August 1, 2018, Mr. Carter was granted 20,000 RSUs, vesting in 25% on the one year anniversary of the date of grant and 6.25% every February 1st, May 1st, August 1st and November 1st the Initial Vesting Date over the three years of continuous service thereafter.
- [F15]Pursuant to the terms of the Merger Agreement, Mr. Carter's 100,000 vested Oclaro stock options that were outstanding as of the Effective Date were cancelled and terminated and converted into the right to receive the Merger Consideration in respect of each Net Option Share (as defined in the Merger Agreement) covered by such cancelled options; provided that, in lieu of the Merger Consideration, any fractional Net Option Share (after aggregating all shares represented by all such cancelled options) was settled in cash based on the Cash Equivalent Consideration (as defined in the Merger Agreement).
- [F2]Withholding of 76,265 shares to satisfy tax obligations arising in connection with the non-reportable vesting of equity awards.
- [F3]Pursuant to the Agreement and Plan of Merger, dated March 11, 2018 (the "Merger Agreement"), Lumentum Holdings Inc. ("Lumentum") acquired Oclaro in a merger transaction (the "Merger") which became effective on December 10, 2018. At the effective time of the Merger (the "Effective Time"), each share of Oclaro common stock converted into the right to receive, without interest, (a) $5.60 in cash and (b) 0.0636 of a share of common stock of Lumentum ("Merger Consideration").
- [F4]Each restricted stock unit represents a contingent right to receive one share of Oclaro common stock.
- [F5]Pursuant to the terms of the Merger Agreement, the vesting of 30,625 Oclaro restricted stock units ("RSUs") granted on August 10, 2016 was accelerated immediately prior to the Effective Time. In accordance with the Merger Agreement, such RSUs were converted into the right to receive the Merger Consideration in respect of each Oclaro share underlying such award.
- [F6]On August 10, 2016, Mr. Carter was granted 70,000 RSUs, vesting in 25% on the one year anniversary of the date of grant and 6.25% every February 10th, May 10th, August 10th and November 10th the Initial Vesting Date over the three years of continuous service thereafter.
- [F7]Pursuant to the terms of the Merger Agreement, the vesting of 30,625 PSUs granted on August 10, 2016 (for which the performance criteria was previously achieved) was accelerated immediately prior to the Effective Time. In accordance with the Merger Agreement, such PSUs were converted into the right to receive the Merger Consideration in respect of each Oclaro share underlying such award.
- [F8]On August 10, 2016, Mr. Carter was granted 70,000 PSUs, vesting in 25% on the one year anniversary of the date of grant and 6.25% every February 10th, May 10th, August 10th and November 10th the Initial Vesting Date over the three years of continuous service thereafter.
- [F9]Pursuant to the terms of the Merger Agreement, the vesting of 27,500 RSUs granted on August 10, 2017 was accelerated immediately prior to the Effective Time. In accordance with the Merger Agreement, such RSUs were converted into the right to receive the Merger Consideration in respect of each Oclaro share underlying such award.
Documents
Issuer
OCLARO, INC.
CIK 0001110647
Entity typeother
Related Parties
1- filerCIK 0001615147
Filing Metadata
- Form type
- 4
- Filed
- Dec 9, 7:00 PM ET
- Accepted
- Dec 10, 5:00 PM ET
- Size
- 26.4 KB