SEACHANGE INTERNATIONAL INC 4
4 · SEACHANGE INTERNATIONAL INC · Filed Oct 22, 2014
Insider Transaction Report
Form 4
SAMIT JAY A
DirectorChief Executive Officer
Transactions
- Award
Common Stock
2014-10-20+138,313→ 138,313 total - Award
Non-Qualified Stock Option (right to buy)
2014-10-20+500,000→ 0 totalExercise: $7.23From: 2015-04-20Exp: 2021-10-20→ Common Stock (500,000 underlying)
Footnotes (2)
- [F1]The securities awarded on October 20, 2014 are in the form of restricted stock units (RSUs) issued pursuant to the Corporation's 2011 Compensation and Incentive Plan that entitle the reporting person to receive one (1) share of common stock per RSU. The RSUs will vest, and the underlying common stock will issue, ratably over four years. The first tranche will vest on October 20, 2015, with an equal number of shares vesting on October 20, 2016 and October 20, 2017 and the balance of the shares vesting on October 20, 2018.
- [F2]The options shall vest in increments based upon the closing price of SeaChange's common stock. In compliance with the terms of SeaChange's Amended and Restated 2011 Compensation and Incentive Plan, none of the options shall vest prior to six months from the date of grant.