4//SEC Filing
IKANOS COMMUNICATIONS, INC. 4
Accession 0001219210-15-000086
CIK 0001219210operating
Filed
Mar 24, 8:00 PM ET
Accepted
Mar 25, 6:16 PM ET
Size
18.0 KB
Accession
0001219210-15-000086
Insider Transaction Report
Form 4
Tahernia Omid
DirectorCEO and President
Transactions
- Award
Stock Option (right to buy)
2015-03-23+120,000→ 120,000 totalExercise: $2.80Exp: 2022-03-23→ Common Stock (120,000 underlying) - Disposition to Issuer
Stock Option (right to buy)
2015-03-23−60,000→ 0 totalExercise: $8.90Exp: 2019-06-11→ Common Stock (60,000 underlying) - Disposition to Issuer
Stock Option (right to buy)
2015-03-23−20,000→ 0 totalExercise: $13.20Exp: 2020-07-30→ Common Stock (20,000 underlying) - Award
Stock Option (right to buy)
2015-03-23+48,000→ 48,000 totalExercise: $2.80Exp: 2022-03-23→ Common Stock (48,000 underlying) - Disposition to Issuer
Stock Option (right to buy)
2015-03-23−150,000→ 0 totalExercise: $8.90Exp: 2019-06-10→ Common Stock (150,000 underlying) - Award
Stock Option (right to buy)
2015-03-23+16,000→ 16,000 totalExercise: $2.80Exp: 2022-03-23→ Common Stock (16,000 underlying)
Footnotes (8)
- [F1]The canceled option provided for vesting as follows: 25% of the shares subject to the option vest on the one year anniversary of the transaction date and 6.25% of the shares vest on each subsequent three (3) month anniversary of the transaction date, subject to the Reporting Person continuing to be a service provider through each such date.
- [F2]On March 23, 2015, the Issuer canceled, pursuant to the Issuer's option exchange program, an option granted to the Reporting Person on 06/11/2012. In exchange for the option to purchase 150,000 shares, the Reporting Person received a new option to purchase 120,000 shares at a lower exercise price.
- [F3]These options vest monthly over 36 months.
- [F4]The canceled option provided for vesting as follows: the shares vest over a one-year period, if at all, in two equal installments if the stock price of the Company's common stock during any 20 consecutive trading day period exceeded $8.20 and $12.30, respectively, beginning upon the date(s) that certain stock price goals are achieved. Once vesting began, these shares would vest in equal quarterly installments over the one-year period after the applicable stock price goal is achieved and in the event of a change-of-control transaction or other qualified termination of employment, as defined in the Reporting Person's pre-existing agreement with the Company, these options would partially vest provided that the price of our common stock at the time of the change-of-control transaction or other qualified termination of employment was at least $5.74. (Continued on Footnote 5.)
- [F5]The portion of the option that will partially vest is determined by a ratio of (x) the excess of the deal price over the exercise price, to (y) the excess of the applicable stock price target over the exercise price, multiplied by the number of shares subject to that tranche.
- [F6]On March 23, 2015, the Issuer canceled, pursuant to the Issuer's option exchange program, an option granted to the Reporting Person on 06/11/2012. In exchange for the option to purchase 60,000 shares, the Reporting Person received a new option to purchase 48,000 shares at a lower exercise price.
- [F7]The vesting schedule remains unchanged and as described in Footnote 4.
- [F8]On March 23, 2015, the Issuer canceled, pursuant to the Issuer's option exchange program, options granted to the Reporting Person on 07/30/2013. In exchange for the option to purchase 20,000 shares, the Reporting Person received a new option to purchase 16,000 shares at a lower exercise price.
Documents
Issuer
IKANOS COMMUNICATIONS, INC.
CIK 0001219210
Entity typeoperating
Related Parties
1- filerCIK 0001219210
Filing Metadata
- Form type
- 4
- Filed
- Mar 24, 8:00 PM ET
- Accepted
- Mar 25, 6:16 PM ET
- Size
- 18.0 KB