Weidong Chen - Dec 8, 2023 Form 4 Insider Report for Casa Systems Inc (CASA)

Role
Former Chief Technology Officer
Signature
/s/ Timothy C. Rodenberger, as Attorney-in-Fact
Stock symbol
CASA
Transactions as of
Dec 8, 2023
Transactions value $
-$65,538
Form type
4
Date filed
12/12/2023, 06:30 PM
Previous filing
Feb 28, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CASA Common Stock Options Exercise +367K +16% 2.66M Dec 8, 2023 Direct F1
transaction CASA Common Stock Tax liability -$65.5K -121K -4.57% $0.54 2.54M Dec 8, 2023 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 -53.3K -100% $0.00* 0 Dec 8, 2023 Common Stock 53.3K Direct F3, F4
transaction CASA Restricted Stock Units Options Exercise $0 -47.9K -100% $0.00* 0 Dec 8, 2023 Common Stock 47.9K Direct F3, F5
transaction CASA Restricted Stock Units Options Exercise $0 -241K -100% $0.00* 0 Dec 8, 2023 Common Stock 241K Direct F3, F6
transaction CASA Restricted Stock Units Award $0 +24K $0.00 24K Dec 8, 2023 Common Stock 24K Direct F3, F7
transaction CASA Restricted Stock Units Options Exercise $0 -24K -100% $0.00* 0 Dec 8, 2023 Common Stock 24K Direct F3, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Weidong Chen is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

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 RSU.
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 of Company 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 Pursuant to the Separation Agreement entered into by the Company and the reporting person on November 17, 2023 (the "Separation Agreement"), the vesting of the RSUs granted to the reporting person on February 25, 2020, was fully accelerated and all of the shares underlying the award became vested as of December 8, 2023. The RSUs have no expiration date.
F5 Pursuant to the Separation Agreement, the vesting of the RSUs granted to the reporting person on February 23, 2021, was fully accelerated and all of the shares underlying the award became vested as of December 8, 2023. The RSUs have no expiration date.
F6 Pursuant to the Separation Agreement, the vesting of the RSUs granted to the reporting person on May 9, 2022, was fully accelerated and all of the shares underlying the award became vested as of December 8, 2023. The RSUs have no expiration date.
F7 These RSUs were granted to the reporting person on February 23, 2021, subject to performance-based vesting conditions. The vesting of these RSUs was fully accelerated as of December 8, 2023, pursuant to the Separation Agreement. These RSUs have no expiration date.
F8 Pursuant to the Separation Agreement, the vesting of the RSUs granted to the reporting person on February 23, 2021, was fully accelerated and all of the shares underlying the award became vested as of December 8, 2023. The RSUs have no expiration date.

Remarks:

Former Chief Technology Officer