KENNARD PAUL 4
4 · AVIAT NETWORKS, INC. · Filed Sep 12, 2011
Insider Transaction Report
Form 4
KENNARD PAUL
SVP, Chief Technology Officer
Transactions
- Award
Non-Qualified Stock Option (right to buy)
2011-09-08+80,115→ 80,115 totalExercise: $2.37Exp: 2018-09-08→ Common Stock (80,115 underlying) - Award
Common Stock
2011-09-08+12,992→ 102,316 total - Award
Common Stock
2011-09-08+26,000→ 128,316 total
Footnotes (3)
- [F1]Restricted shares, which are subject to vesting. Vesting requires continuing employment with the Corporation as of the vesting dates. Restricted shares will vest as follows: 33.3% on September 8, 2012, 33.3% on September 8, 2013 and 33.3% on September 8, 2014. Unvested shares are subject to repurchase by the Corporation at $0.01 per share if eligible employment ends before the vesting date.
- [F2]Performance shares, which are subject to vesting. Vesting requires both (a) continuing employment with the Corporation through the end of the Corporation's fiscal year 2012 (approximately June 29, 2012), and (b) achievement of at least the minimum performance result for the one-year period set forth in the Specific Terms and Conditions. Unvested performance shares are subject to repurchase by the Corporation at $0.01 per share if eligible employment ends or, following the determination of actual Corporation performance versus metrics, to the extent such performance shares do not vest.
- [F3]Stock options to purchase shares become exercisable if employment with the Corporation continues through the vesting dates. The options will vest as follows: 50% on September 8, 2012, 25% on September 8, 2013 and 25% on September 8, 2014.