4//SEC Filing
Briggs Christopher H 4
Accession 0000807863-25-000081
CIK 0000807863other
Filed
Apr 29, 8:00 PM ET
Accepted
Apr 30, 4:12 PM ET
Size
14.0 KB
Accession
0000807863-25-000081
Insider Transaction Report
Form 4
Briggs Christopher H
Other
Transactions
- Tax Payment
Common Stock
2023-04-26$8.72/sh−2,117$18,460→ 104,611 total - Exercise/Conversion
Common Stock
2024-05-16+18,012→ 104,611 total - Tax Payment
Common Stock
2024-05-16$13.75/sh−1,812$24,915→ 104,611 total - Tax Payment
Common Stock
2024-05-16$13.75/sh−5,572$76,615→ 104,611 total - Exercise/Conversion
Performance Restricted Stock Units
2024-05-16−18,012→ 105,536 total→ Common Stock (18,012 underlying)
Footnotes (7)
- [F1]The transactions reported on this Form 4 are being reported late due to inadvertent administrative error. The amount in Column 5 of this Form 4 reflects the number of shares beneficially owned by the Reporting Person as of the date of this report after giving effect to the transactions reported herein and previously reported transactions that occurred after May 16, 2024.
- [F2]Represents the disposition of shares that were automatically sold by the Issuer to pay withholding taxes upon the vesting of 7,368 restricted stock units.
- [F3]Represents the disposition of shares that were automatically sold by the Issuer to pay withholding taxes upon the vesting of 7,369 restricted stock units.
- [F4]Performance restricted stock units convert into common stock on a one-for-one basis.
- [F5]Represents the disposition of shares that were automatically sold by the Issuer to pay withholding taxes upon the vesting of 18,012 performance restricted stock units.
- [F6]On May 16, 2022, 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. 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.
- [F7]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.
Documents
Issuer
MITEK SYSTEMS INC
CIK 0000807863
Entity typeother
Related Parties
1- filerCIK 0001953402
Filing Metadata
- Form type
- 4
- Filed
- Apr 29, 8:00 PM ET
- Accepted
- Apr 30, 4:12 PM ET
- Size
- 14.0 KB