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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN 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. | |||
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. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Restricted Stock Unit | (3) | 12/31/2016 | M | 62,187 (4) | (4) | (4) | Class B Common Stock (5) | 62,187 | $ 0 | 31,094 | D | ||||
Class B Common Stock | (5) | 12/31/2016 | M | 62,187 | (5) | (5) | Class A Common Stock | 62,187 | $ 0 | 62,187 | D | ||||
Class B Common Stock | (5) | 01/03/2017 | F(2) | 24,178 | (5) | (5) | Class A Common Stock | 24,178 | $ 8.77 | 38,009 | D | ||||
Class B Common Stock | (5) | 01/03/2017 | C | 38,009 | (5) | (5) | Class A Common Stock | 38,009 | $ 0 | 0 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Bates Anthony John 3000 CLEARVIEW WAY SAN MATEO, CA 94402 |
X |
Eve T. Saltman, Attorney-in-Fact for Anthony J. Bates | 01/04/2017 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(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) | Includes shares initially subject to the restricted stock unit awards granted to the Reporting Person on February 9, 2015 and May 4, 2016, which were vested as of December 31, 2016 or continue to vest pursuant to the original vesting schedule of such awards, pursuant to the terms of the Separation Agreement (as defined below). The remaining shares subject to such awards were forfeited. |
(2) | Exempt transaction pursuant to Section 16b-3(e) - Payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were relinquished by the Reporting Person and cancelled by the Issuer in exchange for the Issuer's agreement to pay federal and state tax withholding obligations of the Reporting Person resulting from the vesting of restricted stock units. The Reporting Person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than to cover required taxes. |
(3) | Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class B Common Stock. |
(4) | Pursuant to the Separation Agreement and Release of Claims entered into by and between the Issuer and the Reporting Person dated as of December 15, 2016 (the "Separation Agreement"), 25% of the shares initially subject to the restricted stock unit award granted to the Reporting Person on June 25, 2014 (the "June 2014 Award") vested as of December 31, 2016, and an additional 25% of the shares initially subject to the June 2014 Award will continue to vest pursuant to its original vesting schedule if, and so long as, the Reporting Person continues to serve on the Issuer's Board of Directors. |
(5) | Each share of Class B Common Stock is convertible at any time at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. The Class B Common Stock is also convertible into Class A Common Stock on the same basis upon any transfer, whether or not for value, except for "Permitted Transfers" as defined in the Issuer's restated certificate of incorporation in effect as of the date hereof. Each share of Class B Common Stock will convert automatically into one share of Class A Common Stock upon the date when the outstanding shares of Class B Common Stock represent less than 10% of the aggregate number of shares of Common Stock then outstanding. |