LE FRANCOIS P 4
4 · NETWORK EQUIPMENT TECHNOLOGIES INC · Filed May 11, 2010
Insider Transaction Report
Form 4
LE FRANCOIS P
Vice President, Sales
Transactions
- Award
Common Stock
2010-05-11+1,020→ 15,438 total - Award
Restricted Stock Units
2010-05-10+1,020→ 1,020 total→ Common Stock (1,020 underlying) - Tax Payment
Common Stock
2010-05-11$5.12/sh−375$1,920→ 15,063 total - Award
Non-Qualified Stock Option (right to buy)
2010-05-10+40,000→ 40,000 totalExercise: $4.90Exp: 2017-05-10→ Common Stock (40,000 underlying)
Footnotes (4)
- [F1]Upon vesting, each restricted stock unit was converted into an equivalent number of shares of NWK common stock.
- [F2]Represents shares of common stock withheld for tax purposes upon the vesting of restricted stock units.
- [F3]25% of total shares granted vests one year from grant date, thereafter in a series of 36 successive equal monthly installments
- [F4]Restricted Stock Units granted pursuant to Issuer's 2008 Equity Incentive Plan. 100% of the shares subject to the Restricted Stock Units will vest on May 11, 2010. Vested shares will be delivered to the reporting person on the vesting date.