4//SEC Filing
Laroia Rajiv 4
Accession 0001513114-12-000004
CIK 0001105472other
Filed
Mar 19, 8:00 PM ET
Accepted
Mar 20, 6:26 PM ET
Size
13.3 KB
Accession
0001513114-12-000004
Insider Transaction Report
Form 4
Laroia Rajiv
SVP & Chief Technology Officer
Transactions
- Award
Common Stock
2012-03-16+187,500→ 187,500 total - Award
Common Stock
2012-03-16+124,987→ 711,458 total - Award
Common Stock
2012-03-16+398,971→ 586,471 total - Award
Stock Option (right to buy)
2012-03-16+297,917→ 297,917 totalExercise: $2.92Exp: 2022-03-16→ Common Stock (297,917 underlying) - Tax Payment
Common Stock
2012-03-16$2.92/sh−15,679$45,783→ 695,779 total
Footnotes (6)
- [F1]Subject to the continued employment of the Reporting Person, these are restricted shares of Common Stock that vest as follows: 46,875 shares on March 16, 2012; and 23,438 shares on each of August 11, 2012; February 11, 2013; August 11, 2013; February 11, 2014; August 11, 2014; and February 11, 2015.
- [F2]The vesting of the 398,971 share grant is subject to the achievement of the Issuer's performance level for 2012 and the continued employment of the Reporting Person. 398,971 shares are subject to performance vesting. If all 398,971 shares are earned, (i) 250,013 of such 398,971 shares will vest as follows: one third of the shares that becomes performance vested will vest on the date the Issuer reports its financial results by which the achievement of 2012 performance metrics can be determined and an additional one-third of such shares will vest on each of February 11, 2014 and February 11, 2015; and (ii) 148,958 of such 398,971 shares will vest as follows: 25% of the shares that becomes performance vested will vest on the date the Issuer reports its financial results by which the achievement of 2012 performance metrics can be determined, and an additional 25% of such
- [F3]shares will vest on each of March 16, 2013; March 16, 2014 and March 16, 2015. If less than all of these 633,350 shares is earned, the earned shares will vest on the foregoing 3-year and 4-year schedules in the same relative proportions.
- [F4]The vesting of the 124,987 share grant is generally subject to the metrics and the vesting schedule to be determined by the Compensation Committee of the Board of Directors of the Issuer in its sole discretion.
- [F5]PAYMENT OF TAX LIABILITY BY DELIVERING SECURITIES TO THE COMPANY INCIDENT TO THE VESTING OF A SECURITY.
- [F6]25% of the shares underlying this option vests on March 16, 2013. The remaining 75% of the shares underlying this option will then vest in equal monthly increments for the following 36 months through March 16, 2016.
Documents
Issuer
SONUS NETWORKS INC
CIK 0001105472
Entity typeother
Related Parties
1- filerCIK 0001513114
Filing Metadata
- Form type
- 4
- Filed
- Mar 19, 8:00 PM ET
- Accepted
- Mar 20, 6:26 PM ET
- Size
- 13.3 KB