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Filing Details

Accession Number:: 0001181431-12-007595
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-02-09 21:40:47
Reporting Period:: 2012-02-08

Filing Date:: 2012-02-09
Accepted Time:: 2012-02-09 21:40:47
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1310114	Servicesource International Inc.	SREV	Services-Business Services, Nec (7389)	000000000

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1516363	A Michael Smerklo	C/O Servicesource International, Inc. 634 Second Street San Francisco CA 94107	Ceo & Chairman Of The Board	Yes	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2012-02-08	500,000	$0.00	500,000	No	4	A	Direct
Common Stock	Disposition	2012-02-09	17,140	$16.48	1,117,334	No	4	S	Indirect	See footnote
Common Stock	Disposition	2012-02-09	115,720	$16.46	1,001,614	No	4	S	Indirect	See footnote
Common Stock	Disposition	2012-02-09	17,140	$16.48	381,440	No	4	S	Indirect	See footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	A	Direct
No	4	S	Indirect	See footnote
No	4	S	Indirect	See footnote
No	4	S	Indirect	See footnote

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Employee Stock Option (right to buy)	Acquisiton	2012-02-08	750,000	$0.00	750,000	$17.36

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
750,000		2022-02-08	No	4	A	Direct

Footnotes

The reported award represents shares of restricted stock pursuant to which 300,000 shares vest in four equal annual installments beginning on February 7, 2013. The remaining 200,000 shares of restricted stock vest on the date the Issuer files its Form 10-K for 2015 if the Issuer has achieved certain revenue and annual contract value goals. The goals will be met if the Issuer has achieved a percentage increase, compounded annually, over the Issuer's annual revenue and annual contract value for 2011 of at least 25%; for any increase between 20% and 25%, between 100,000 and 200,000 shares will vest based on a straight line interpolation; for any increase of 20%, 100,000 shares will vest; and for below 20%, no shares will vest.
The sales reported on this Form 4 were effected pursuant to Rule 10b5-1 trading plans adopted by the Reporting Person on August 28, 2011.
The sale price reported in column 4 of Table I represents the weighted average sale price of the shares sold ranging from $ 16.23 to $ 16.76 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (3) and (5) to this Form 4.
Shares held directly by The True North Trust dated July 25, 2008 for which the Reporting Person serves as trustee.
The sale price reported in column 4 of Table I represents the weighted average sale price of the shares sold ranging from $16.21 to $16.80 per share.
Shares held directly by the 2010 Michael Smerklo Grantor Retained Annuity Trust dated November 23, 2010 for which the ReportingPerson as trustee
One-fourth of the shares subject to the option vest on February 8, 2013 and one forty-eighth of the shares vest monthly thereafter.