4//SEC Filing
Ritter Stephen 4
Accession 0001666983-21-000007
CIK 0000807863other
Filed
Dec 27, 7:00 PM ET
Accepted
Dec 28, 6:35 PM ET
Size
10.1 KB
Accession
0001666983-21-000007
Insider Transaction Report
Form 4
Ritter Stephen
Chief Technology Officer
Transactions
- Exercise/Conversion
Common Stock
2021-12-23+50→ 182,954 total - Exercise/Conversion
Performance Restricted Stock Units
2021-12-23−50→ 49,928 total→ Common Stock (50 underlying) - Sale
Common Stock
2021-12-23−20→ 182,934 total
Footnotes (5)
- [F1]Performance restricted stock units convert into common stock on a one-for-one basis.
- [F2]Represents the disposition of shares that were automatically sold by Mitek Systems, Inc. to pay withholding taxes upon the vesting of 50 performance restricted stock units.
- [F3]On November 27, 2020, the reporting person was granted restricted stock units under Mitek's 2020 Incentive Plan (the "Performance RSUs"), which vest based upon the achievement of certain performance criteria over the three year period following the date of grant (each such year, a "Performance Period"), with up to 33% of such units vesting (on each anniversary of the date of grant) with respect to each applicable Performance Period. Performance criteria is measured on both an annual and cumulative basis as described below.
- [F4]The annual performance criteria for each annual Performance Period shall be for the % increase in value of Mitek's common stock to meet or exceed the % increase in value of the Russell 2000 Index over the applicable annual Performance Period, based on a hypothetical investment in both Mitek's common stock and the Russell 2000 Index with a purchase price equal to the average closing price of each for the 20-trading days immediately preceding the start of the applicable Performance Period. At the end of the applicable Performance Period, the value of the hypothetical investments shall be determined by assuming the sale of each based on the average closing price of each from the immediately preceding 20-trading days. The % change shall be determined by comparing the increase in value to the starting investment. The performance criteria for the first Performance Period was met, resulting in the vesting of 33% of the Performance RSUs.
- [F5]Additionally, a portion of the Performance RSUs may vest during a later Performance Period if the cumulative % increase in value of Mitek common stock measured over the current and all previous Performance Periods exceeds the cumulative % increase in value of the Russell 2000 Index.
Documents
Issuer
MITEK SYSTEMS INC
CIK 0000807863
Entity typeother
Related Parties
1- filerCIK 0001666983
Filing Metadata
- Form type
- 4
- Filed
- Dec 27, 7:00 PM ET
- Accepted
- Dec 28, 6:35 PM ET
- Size
- 10.1 KB