Zhao Yang 4
4 · MEMSIC Inc · Filed May 22, 2012
Insider Transaction Report
Form 4
MEMSIC IncMEMS
Zhao Yang
DirectorCHIEF EXECUTIVE OFFICER
Transactions
- Award
Stock Option (right to buy)
2012-05-20+280,000→ 1,126,250 totalExercise: $2.15Exp: 2022-05-20→ Common Stock (280,000 underlying)
Footnotes (1)
- [F1]Option vests in full on May 20, 2019, subject to acceleration as follows: 1/7 of the total number of shares will vest in any quarter in which (a) the Company's total revenue for the two preceding calendar quarters is $36.0 million or greater, and (b) the Company's average gross margin for such two preceding calendar quarters has exceeded a specified target percentage. That target percentage is equal to 36.0% for the first vesting tranche, and increases by 0.5% for each successive tranche. Option vests in full upon the occurrence of a change in control, as defined in the Company's 2007 Stock Incentive Plan.