Scott Bruckner - Jan 1, 2022 Form 4 Insider Report for Casa Systems Inc (CASA)

Role
CFO
Signature
/s/ Timothy C. Rodenberger, as Attorney-in-Fact
Stock symbol
CASA
Transactions as of
Jan 1, 2022
Transactions value $
-$103,058
Form type
4
Date filed
1/4/2022, 08:08 PM
Next filing
Mar 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CASA Common Stock Options Exercise +12.7K +13.59% 106K Jan 1, 2022 Direct F1
transaction CASA Common Stock Options Exercise +25.4K +23.85% 132K Jan 1, 2022 Direct F1
transaction CASA Common Stock Tax liability -$103K -18.2K -13.8% $5.67 114K Jan 1, 2022 Direct F2

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 CASA Restricted Stock Units Options Exercise $0 -12.7K -49.99% $0.00 12.7K Jan 1, 2022 Common Stock 12.7K Direct F3, F4
transaction CASA Restricted Stock Units Options Exercise $0 -25.4K -20% $0.00 101K Jan 1, 2022 Common Stock 25.4K Direct F3, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units ("RSUs") converted into common stock, $0.001 par value per share (the "Common Stock"), of Casa Systems, Inc. (the "Company") on a one-for-one basis upon vesting of the units.
F2 Shares withheld by the Company to satisfy tax withholding requirements on vesting of RSUs. No shares were sold.
F3 Each RSU represents the right to receive one share of Common Stock upon vesting, subject to the reporting person's continued service relationship with the Company and the other terms and conditions set forth in the applicable RSU agreement. In the sole discretion of the Company's board of directors, the Company may, with respect to any applicable vesting date, deliver to the reporting person Common Stock or cash having a fair market value equal to the number of shares of Common Stock underlying the portion of the RSU that vested on such date, payable within 30 days of the vesting date, less applicable taxes.
F4 These RSUs are scheduled to vest over four years, with 25% of the 50,891 shares underlying the award vesting on January 1, 2020, and 25% of the shares underlying the award vesting at the end of each successive one-year period thereafter. The RSUs have no expiration date.
F5 These RSUs are subject to both time and performance-based vesting: (i) 101,422 of the RSUs are subject to time-based vesting and are scheduled to vest over four years, with 25% of the shares underlying the award vesting on January 1, 2022, and 25% of the shares underlying the award vesting at the end of each successive one-year period thereafter and (ii) 25,356 of the RSUs are subject to performance-based vesting, the conditions for which are met upon the Company's level of achievement of pre-established performance parameters, as approved by the Company's Board of Directors, related to either or both of (a) the Company's relative Total Shareholder Return ("TSR") performance against the TSR of the companies listed in the Russell 2000 Index, and (b) the absolute stock price performance of the Company's common stock, and subject to the other terms and conditions set forth in the applicable RSU agreement. The RSUs have no expiration date.