PENNY ROBERT C III 4
4 · WESTELL TECHNOLOGIES INC · Filed Jun 2, 2011
Insider Transaction Report
Form 4
PENNY ROBERT C III
Director10% Owner
Transactions
- Disposition to Issuer
Class A Common Stock
2011-05-31$3.43/sh−316,419$1,084,210→ 0 total(indirect: By Trust) - Conversion
Class A Common Stock
2011-05-31+191,407→ 316,419 total(indirect: By Trust) - Conversion
Class B Common Stock
2011-05-31−191,407→ 4,832,131 total(indirect: By Trust)
Holdings
- 40,000
Class A Common Stock
Footnotes (4)
- [F1]Holders of Class B Common Stock have four votes per share and holders of Class A Common Stock have one vote per share. Class B Common Stock is transferable only to certain transferees and is convertible into Class A Common Stock on a one-for-one basis.
- [F2]On May 31, 2011, as part of its authorized share repurchase program, Westell Technologies, Inc. (the "Company") purchased the shares of Class A Common Stock reported above; 191,407 of these shares were converted into Class A Common Stock from Class B Common Stock on a one-for-one basis immediately prior to sale. The price paid by the Company represented the volume weighted average price of the Company's Class A Common Stock for the three daily trading sessions on May 23, 24 and 25, 2011, as reported on the NASDAQ Global Select Market.
- [F3]Includes 3,846,492 shares of Class B Common Stock shares held pursuant to a Voting Trust Agreement dated February 23,1994, as amended, among Robert C. Penny III and Robert W. Foskett, as co-trustees, and certain members of the Penny family. Also includes 316,419 shares of Class A Common Stock and 985,639 shares of Class B Common stock held in trusts for which the Reporting Person's children are beneficiaries.
- [F4]Includes 3,846,492 shares of Class B Common Stock shares held pursuant to a Voting Trust Agreement dated February 23,1994, as amended, among Robert C. Penny III and Robert W. Foskett, as co-trustees, and certain members of the Penny family. Also includes 985,639 shares of Class B Common stock held in trusts for which the Reporting Person's children are beneficiaries.