Edgar Filing: LSI CORP

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT 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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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

RANKIN JEAN F

2. Issuer Name and Ticker or Trading Symbol
LSI CORP [LSI]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
EVP

(Last)

(First)

(Middle)

C/O LSI CORPORATION, 1320 RIDDER PARK DRIVE

3. Date of Earliest Transaction (Month/Day/Year)
05/06/2014

(Street)

SAN JOSE, CA 95131

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/06/2014		D		297,940	D	$ 11.15	0	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

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)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Restricted Stock Units

⁽¹⁾

05/06/2014

A⁽²⁾

36,635

04/01/2015

Common Stock

36,635

$ 0

36,635

Restricted Stock Units

⁽¹⁾

05/06/2014

36,635

04/01/2015

Common Stock

36,635

⁽³⁾

Restricted Stock Units

⁽¹⁾

05/06/2014

A⁽²⁾

56,603

04/01/2016

Common Stock

56,603

$ 0

56,603

Restricted Stock Units

⁽¹⁾

05/06/2014

56,603

04/01/2016

Common Stock

56,603

⁽³⁾

Restricted Stock Units

⁽¹⁾

05/06/2014

A⁽²⁾

47,339

04/01/2017

Common Stock

47,339

$ 0

47,339

Restricted Stock Units

⁽¹⁾

05/06/2014

47,339

04/01/2017

Common Stock

47,339

⁽⁴⁾

Restricted Stock Units

⁽¹⁾

05/06/2014

5,788

03/01/2015

Common Stock

5,788

⁽³⁾

Restricted Stock Units

⁽¹⁾

05/06/2014

18,318

⁽⁵⁾

03/01/2016

Common Stock

18,318

⁽³⁾

Restricted Stock Units

⁽¹⁾

05/06/2014

35,377

⁽⁶⁾

03/01/2017

Common Stock

35,377

⁽³⁾

Restricted Stock Units

⁽¹⁾

05/06/2014

40,577

⁽⁷⁾

03/01/2018

Common Stock

40,577

⁽⁸⁾

Employee Stock Option (right to buy)

$ 5.04

05/06/2014

175,000

⁽⁹⁾

03/01/2015

Common Stock

175,000

$ 6.11 ⁽¹⁰⁾

Employee Stock Option (right to buy)

$ 2.9

05/06/2014

235,000

⁽¹¹⁾

03/01/2016

Common Stock

235,000

$ 8.25 ⁽¹⁰⁾

Employee Stock Option (right to buy)

$ 5.51

05/06/2014

250,000

⁽¹²⁾

03/01/2017

Common Stock

250,000

$ 5.64 ⁽¹⁰⁾

Employee Stock Option (right to buy)

$ 6.18

05/06/2014

231,500

⁽¹³⁾

03/01/2018

Common Stock

231,500

$ 4.97 ⁽¹⁰⁾

Employee Stock Option (right to buy)

$ 8.53

05/06/2014

215,242

⁽¹⁴⁾

03/01/2019

Common Stock

215,242

$ 2.62 ⁽¹⁰⁾

Employee Stock Option (right to buy)

$ 6.89

05/06/2014

248,502

⁽¹⁵⁾

03/01/2020

Common Stock

248,502

$ 4.26 ⁽¹⁰⁾

Employee Stock Option (right to buy)

$ 11.09

05/06/2014

179,732

⁽¹⁶⁾

03/01/2021

Common Stock

179,732

⁽¹⁷⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
RANKIN JEAN F C/O LSI CORPORATION 1320 RIDDER PARK DRIVE SAN JOSE, CA 95131			EVP

Signatures

Susan Solner Janjigian, by power of attorney		05/08/2014
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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)	Each restricted stock unit represents a contingent right to receive one share of LSI common stock.
(2)	As a result of the merger between LSI and a subsidiary of Avago Technologies Limited, a previously awarded performance-based restricted stock unit award became a time-based restricted stock unit award for the number of restricted stock units shown.
(3)	These restricted stock units were canceled in connection with the merger of LSI and a subsidiary of Avago Technologies Limited in exchange for a cash payment of $11.15 per restricted stock unit.
(4)	These restricted stock units were converted into 8,382 Avago restricted stock units in connection with the merger between LSI and a subsidiary of Avago Technologies Limited.
(5)	These restricted stock units vest at the rate of 50% per year, beginning March 1, 2015.
(6)	These restricted stock units vest at the rate of 1/3 per year, beginning March 1, 2015.
(7)	These restricted stock units vest at the rate of 25% per year, beginning March 1, 2015.
(8)	These restricted stock units were converted into 7,185 Avago restricted stock units in connection with the merger between LSI and a subsidiary of Avago Technologies Limited.
(9)	This option becomes exercisable at the rate of 25% per year, beginning March 1, 2009.
(10)	This option was canceled in connection with the merger of LSI and a subsidiary of Avago Technologies Limited in exchange for a cash payment per share equal to the difference between $11.15 and the exercise price of the option.
(11)	This option becomes exercisable at the rate of 25% per year, beginning March 1, 2010.
(12)	This option becomes exercisable at the rate of 25% per year, beginning March 1, 2011.
(13)	This option becomes exercisable at the rate of 25% per year, beginning March 1, 2012.
(14)	This option becomes exercisable at the rate of 25% per year, beginning March 1, 2013.
(15)	This option becomes exercisable at the rate of 25% per year, beginning March 1, 2014.
(16)	This option becomes exercisable at the rate of 25% per year, beginning March 1, 2015.
(17)	As a result of the merger between LSI and a subsidiary of Avago Technologies Limited, this stock option was converted into a stock option to purchase 31,825 ordinary shares of Avago Technologies Limited at a price of $62.63 per share.

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