Filing Details
- Accession Number:
- 0001140361-16-064936
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2016-05-12 20:42:13
- Reporting Period:
- 2016-05-10
- Filing Date:
- 2016-05-12
- Accepted Time:
- 2016-05-12 20:42:13
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 1180079 | Silver Spring Networks Inc | SSNI | Computer Communications Equipment (3576) | 000000000 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1586409 | P. James Burns | C/O Silver Spring Networks, Inc. 555 Broadway St. Redwood City CA 94063 | Evp, Chief Financial Officer | No | 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 | 2016-05-10 | 9,625 | $0.00 | 37,901 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2016-05-10 | 3,618 | $13.09 | 34,283 | No | 4 | F | Direct | |
| Common Stock | Acquisiton | 2016-05-10 | 4,625 | $0.00 | 38,908 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2016-05-10 | 1,739 | $13.43 | 37,169 | No | 4 | F | Direct | |
| Common Stock | Disposition | 2016-05-11 | 6,007 | $12.70 | 31,162 | 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 | F | 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 | 2016-05-10 | 4,625 | $0.00 | 4,625 | $0.00 |
| Common Stock | Employee Stock Option (right to buy) | Acquisiton | 2016-05-10 | 75,000 | $0.00 | 75,000 | $13.09 |
| Common Stock | Restricted Stock Units | Acquisiton | 2016-05-10 | 33,750 | $0.00 | 33,750 | $0.00 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 27,750 | No | 4 | M | Direct | ||
| 75,000 | 2026-05-09 | No | 4 | A | Direct | |
| 33,750 | No | 4 | A | Direct |
Footnotes
- Represents restricted stock units ("RSUs") awarded to the Reporting Person on May 10, 2016, pursuant to the Issuer's 2015 Corporate Bonus Plan, that vested in full and settled immediately upon grant. The shares of Common Stock were delivered to the Reporting Person upon settlement for no consideration.
- Exempt transaction pursuant to Section 16b-3(e) for 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 to the Issuer 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 RSUs. 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.
- Release and settlement of RSUs granted to the Reporting Person on November 15, 2013, the grant of which was previously reported on a Form 4 by the Reporting Person.
- Represents the aggregate of sales effected on the same day at different prices.
- Represents the weighted average sales price per share. The shares were sold at prices ranging from $12.70 to $12.71 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.
- Each RSU represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
- 25% of the RSUs vested on November 10, 2014 and thereafter vests quarterly as to 6.25% of the total RSUs with the first 6.25% vesting on February 10, 2015. Shares of the Issuer's common stock will be delivered to the Reporting Person following vesting.
- The stock option will vest as to 1/4th of the total number of shares on May 10, 2017 and thereafter shall vest as to 1/48th of the total number of shares in equal monthly installments.
- 25% of the RSUs vest on May 10, 2017 and thereafter shall vest quarterly as to 6.25% of the total RSUs with the first 6.25% vesting on August 10, 2017. Shares of the Issuer's common stock will be delivered to the Reporting Person following vesting.
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