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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Restricted Stock Unit (RSU) | (1) | 08/07/2013 | A | 28,860 | (2) | (2) | Common Stock | 28,860 | $ 0 | 28,860 | D | ||||
Restricted Stock Unit (RSU) | (1) | 08/07/2013 | A | 14,430 | (3) | 08/15/2016 | Common Stock | 14,430 | $ 0 | 14,430 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Pilette Vincent 303 VELOCITY WAY FOSTER CITY, CA 94404 |
Chief Financial Officer |
/s/ Vincent Pilette | 08/09/2013 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Each restricted stock unit represents a contingent right to receive on vesting one share of the issuer's common stock. |
(2) | This is a performance-based award. The award will vest with respect to one-third of the award upon achievement of specified revenue and non-GAAP operating income targets over a period of four consecutive quarters ending no later than the issuer's fourth fiscal quarter of 2014, second fiscal quarter of 2016 and second fiscal quarter of 2017, respectively. In each case, vesting of the award is subject to Mr. Pilette's continued employment with the issuer through the applicable vesting date. In the event the performance targets are not achieved for the applicable performance period, the award tranche related to that period will not vest. |
(3) | This restricted stock unit award will vest with respect to one-third of the award on each of August 15, 2014, August 15, 2015 and August 15, 2016, subject to Mr. Pilette's continued employment with the issuer through the applicable vesting date. |