AVIAT NETWORKS, INC. 4
4 · AVIAT NETWORKS, INC. · Filed Sep 26, 2016
Insider Transaction Report
Form 4
Pangia Michael
Chief Sales Officer
Transactions
- Award
Common Stock
2016-09-22+22,689→ 98,759 total - Disposition to Issuer
Common Stock
2015-08-19−17,856→ 76,070 total - Award
Common Stock
2016-09-22+20,833→ 119,592 total
Footnotes (3)
- [F1]Performance shares subject to vesting based on the achievement of certain performance targets by the Corporation during the Corporation's fiscal year 2015. The performance targets were not achieved, and as a result, the beneficial ownership decreased by 17,856 shares.
- [F2]Performance share units, which are subject to vesting. Vesting requires both (a) continuing employment with the Corporation, and (b) achievement of at least the minimum performance and time result for thethree-year period set forth in the Specific Terms and Conditions. Once shares have achieved their performance components, they will vest 3 years from the date of grant. Unvested performance share units are subject to cancellation by the Corporation at $0.01 per share if eligible employment ends or, following the determination of achievement of performance measures.
- [F3]100% of the shares subject to the award shall vest three years from the grant date, contingent upon continued employment.