(CMTL)

Role: President & COO
Signature: Michael D. Porcelain
Stock symbol: CMTL
Transactions as of: Jul 31, 2021
Transactions value $: -$348,182
Form type: 4
Date filed: 8/3/2021, 05:11 PM
Previous filing: Jul 8, 2021
Next filing: Aug 6, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CMTL	Common Stock Par Value $.10 Per Share	Options Exercise		+27.5K	+23.35%		145K	Jul 31, 2021	Direct	F1
transaction	CMTL	Common Stock Par Value $.10 Per Share	Tax liability	-$348K	-13.9K	-9.61%	$24.97	131K	Jul 31, 2021	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CMTL	Share Units	Options Exercise		-27.5K	-100%		0	Jul 31, 2021	Common stock par value $.10 per share	27.5K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These transactions represent the net settlement of share units (see footnote #2) to withhold the Reporting Person's federal, state and local income taxes in connection with the conversion of share units previously awarded to the Reporting Person into shares of Comtech Telecommunications Corp.'s common stock. Share units are rights to convert solely into Comtech Telecommunications Corp. common stock on a one-for-one basis.
F2	The share units were issued last fiscal year in lieu of cash settlements based on the achievement of pre-established non-equity incentive goals for the fiscal year ending July 31, 2020, pursuant to the 2000 Stock Incentive Plan. These share units were fully vested upon grant and were automatically converted into Comtech Telecommunications Corp.'s common stock on the one-year anniversary of the grant date, which was July 31, 2021.

Content

These transactions represent the net settlement of share units (see footnote #2) to withhold the Reporting Person's federal, state and local income taxes in connection with the conversion of share units previously awarded to the Reporting Person into shares of Comtech Telecommunications Corp.'s common stock. Share units are rights to convert solely into Comtech Telecommunications Corp. common stock on a one-for-one basis.

The share units were issued last fiscal year in lieu of cash settlements based on the achievement of pre-established non-equity incentive goals for the fiscal year ending July 31, 2020, pursuant to the 2000 Stock Incentive Plan. These share units were fully vested upon grant and were automatically converted into Comtech Telecommunications Corp.'s common stock on the one-year anniversary of the grant date, which was July 31, 2021.