Filing Details
- Accession Number:
- 0001683168-18-001599
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2018-06-05 21:30:12
- Reporting Period:
- 2018-06-01
- Accepted Time:
- 2018-06-05 21:30:12
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 1114925 | Lantronix Inc | LTRX | Computer Communications Equipment (3576) | 330362767 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1397573 | Jeff Benck | C/O Lantronix, Inc. 7535 Irvine Center Drive, #100 Irvine CA 92618 | Chief Executive Officer | 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 | 2018-06-01 | 37,500 | $0.00 | 284,074 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2018-06-01 | 19,044 | $3.46 | 265,030 | No | 4 | F | Direct | |
| Common Stock | Acquisiton | 2018-06-04 | 25,000 | $1.12 | 290,030 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2018-06-04 | 25,000 | $3.37 | 265,030 | No | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | M | Direct | |
| No | 4 | F | Direct | |
| No | 4 | M | Direct | |
| No | 4 | S | Direct |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Common Stock | Restricted Stock Units | Disposition | 2018-06-01 | 37,500 | $0.00 | 37,500 | $0.00 |
| Common Stock | Stock Option (Right to buy) | Disposition | 2018-06-04 | 25,000 | $0.00 | 25,000 | $1.12 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 75,000 | No | 4 | M | Direct | ||
| 125,000 | 2022-12-06 | No | 4 | M | Direct |
Footnotes
- Represents Restricted Stock Units ("RSUs") granted on April 28, 2016 pursuant to an Inducement Restricted Stock Unit Agreement (the "RSU Agreement"). The remaining RSUs vest at the rate of 37,500 each quarter through December 2018. On each vesting date, for each RSU vesting on such date, the reporting person will receive one share of Lantronix, Inc. common stock.
- In accordance with the terms of the RSU Agreement, 19,044 shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding.
- Represents shares of common stock acquired via exercise of Stock Options granted on December 4, 2015 (the "Grant Date") under the Lantronix, Inc. Amended and Restated 2010 Stock Incentive Plan (the "2010 SIP").
- This transaction was executed in multiple trades at prices ranging from $3.30 to $3.42. The price reported reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- The option vests according to the following schedule: (i) 25% of the option (37,500 shares) vested on September 1, 2017, which was the one year anniversary of the Vesting Commencement Date (September 1, 2016) and (ii) 1/48 of the option vests on each monthly anniversary of the Vesting Commencement Date thereafter, such that 100% of the option will be fully vested on the four year anniversary of the Vesting Commencement Date.
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