Fred Kornberg - Jul 31, 2021 Form 4 Insider Report for COMTECH TELECOMMUNICATIONS CORP /DE/ (CMTL)

Signature
Fred Kornberg
Stock symbol
CMTL
Transactions as of
Jul 31, 2021
Transactions value $
-$72,663
Form type
4
Date filed
8/3/2021, 05:17 PM
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 +2.91K +2.65% 113K Jul 31, 2021 Direct F1
transaction CMTL Common Stock Par Value $.10 Per Share Tax liability -$72.7K -2.91K -2.58% $24.97 110K Jul 31, 2021 Direct
holding CMTL Common Stock Par Value $.10 Per Share 309K Jul 31, 2021 By GRAT

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 Award +60.9K 60.9K Jul 31, 2021 Common stock par value $0.10 per share 60.9K Direct F2
transaction CMTL Share Units Options Exercise -2.91K -4.78% 58K Jul 31, 2021 Common stock par value $0.10 per share 2.91K 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 Insurance Contributions Act ("FICA") tax and certain federal and state income taxes.
F2 Share units are rights to convert solely into Comtech Telecommunications Corp. common stock on a one-for-one basis. The share units were issued in lieu of cash settlements based on the achievement of pre-established non-equity incentive goals for the fiscal year ending July 31, 2021, pursuant to the 2000 Stock Incentive Plan. These share units are fully vested, are subject to certain transfer restrictions, and will be converted into Comtech Telecommunications Corp. common stock following the one-year anniversary of the grant date which will occur on July 31, 2022.