Filing Details

Accession Number:
0001437749-16-038132
Form Type:
4
Zero Holdings:
No
Publication Time:
2016-08-26 16:30:01
Reporting Period:
2016-08-24
Filing Date:
2016-08-26
Accepted Time:
2016-08-26 16:30:01
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
915778 Dsp Group Inc DSPG Semiconductors & Related Devices (3674) 942683643
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1455222 Ofer Elyakim 161 S. San Antonio Road, Suite 10
Los Altos CA 94022
Ceo Yes Yes No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Acquisiton 2016-08-24 78,186 $7.26 442,302 No 4 M Direct
Common Stock Disposition 2016-08-24 48,186 $11.78 394,116 No 4 D Direct
Common Stock Disposition 2016-08-24 30,000 $12.02 364,116 No 4 S Direct
Common Stock Acquisiton 2016-08-25 38,024 $7.26 402,140 No 4 M Direct
Common Stock Disposition 2016-08-25 23,024 $11.99 379,116 No 4 D Direct
Common Stock Disposition 2016-08-25 15,000 $11.92 364,116 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 M Direct
No 4 D Direct
No 4 S Direct
No 4 M Direct
No 4 D Direct
No 4 S Direct
Reported Derivative Transactions
Sec. Name Sec. Type Acquisiton - Disposition Date Amount Price Amount - 2 Price - 2
Common Stock Stock Appreciation Right Disposition 2016-08-24 78,186 $0.00 52,124 $7.26
Common Stock Stock Appreciation Right Disposition 2016-08-25 38,024 $0.00 25,349 $7.26
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
0 2017-01-27 No 4 M Direct
0 2017-01-27 No 4 M Direct
Footnotes
  1. This represents the difference between the number of SARs exercised (78,186) and the number of shares issued as a result of the exercise (30,000). The number of shares to be issued under a SAR exercise is determined by multiplying the number of SARs being exercised by the difference between the FMV on the date immediately prior to the date the SAR is exercised ($11.78) and the base price ($7.26). The SARs were issued from a plan that will expire in January 2017.
  2. The sales were in response to the disparate tax treatment under the Israeli tax ruling that would have resulted in significant adverse tax consequences for Mr. Elyakim to hold the exercised SARs as opposed to selling the same.
  3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.96 to $12.07, inclusive. The reporting person undertakes to provide to DSP Group, Inc., any security holder of DSP Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to this Form 4.
  4. This represents the difference between the number of SARs exercised (38,024) and the number of shares issued as a result of the exercise (15,000). The number of shares to be issued under a SAR exercise is determined by multiplying the number of SARs being exercised by the difference between the FMV on the date immediately prior to the date the SAR is exercised ($11.99) and the base price ($7.26). The SARs were issued from a plan that will expire in January 2017.
  5. Represents 95,888 shares outstanding, 144,213 vested RSUs, and 124,015 unvested RSUs.
  6. The Stock Appreciation Right vests 25% after 1 year and 6.25% each quarter thereafter.
  7. The Stock Appreciation Right grant is subject to a ceiling such that when the fair market value of the Company's common stock is equal to or great than three times the base appreciation amount of the stock appreciation right, the portion of the stock appreciation rights that is vested on such date is automatically exercised on the next trading day and the appreciation amount is paid by the issuance of the respective number of shares of the Company's common stock. Therefore, the number of underlying shares of common stock that may be received upon exercise cannot exceed 2/3 of the number of stock appreciation rights granted.