Michael Porcelain - Jul 31, 2022 Form 4 Insider Report for COMTECH TELECOMMUNICATIONS CORP /DE/ (CMTL)

Signature
Michael D. Porcelain
Stock symbol
CMTL
Transactions as of
Jul 31, 2022
Transactions value $
-$196,413
Form type
4
Date filed
8/2/2022, 05:25 PM
Previous filing
Aug 1, 2022
Next filing
Aug 5, 2022

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 +34.7K +23.3% 184K Jul 31, 2022 Direct F1
transaction CMTL Common Stock Par Value $.10 Per Share Tax liability -$196K -16.9K -9.2% $11.62 167K Jul 31, 2022 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 -34.7K -31% 77.2K Jul 31, 2022 Common Stock Par Value $.10 Per Share 34.7K 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, 2021, 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, 2022.