UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF 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. | SEC 1473 (7-02) | ||
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. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Performance Shares | Â (1) | 09/10/2018 | Common Stock | 34,000 | $ (2) | D | Â |
Employee Stock Option (Right to buy) | Â (3) | 09/10/2024 | Common Stock | 136,000 | $ 2.24 | D | Â |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Modi Sohrab 550 MERIDIAN AVENUE SAN JOSE, CA 95126 |
 |  |  VP and CTO |  |
/s/ Alicia Jayne Moore, attorney-in-fact for Sohrab Modi | 05/20/2015 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(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) | Pursuant to the Issuer's 1997 Stock Plan (the "Plan") the Reporting Person was granted 34,000 performance shares on September 10, 2014. 1/4th of the total number of shares granted vest on September 10, 2015 and on each one year anniversary thereafter. |
(2) | Each performance share represents the right to receive one share of the Issuer's Common Stock. |
(3) | Pursuant to the Plan the Reporting Person was granted an option to buy 136,000 shares of Common Stock on September 10, 2014. 1/4th of the total number of shares granted vest on September 10, 2015 and on each one year anniversary thereafter. |