Patrick Harshman - Feb 17, 2023 Form 4 Insider Report for HARMONIC INC (HLIT)

Role
President and CEO, Director
Signature
/s/ Laura A Donovan By Attorney-in-Fact: Laura A Donovan
Stock symbol
HLIT
Transactions as of
Feb 17, 2023
Transactions value $
-$1,959,359
Form type
4
Date filed
2/21/2023, 03:52 PM
Previous filing
Feb 17, 2023
Next filing
Mar 8, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HLIT Common Stock Options Exercise $0 +274K +52.3% $0.00 799K Feb 17, 2023 Direct F1
transaction HLIT Common Stock Tax liability -$1.96M -144K -18.08% $13.57 654K Feb 17, 2023 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 HLIT Restricted Stock Units Award $0 +150K $0.00 150K Feb 17, 2023 Common Stock 150K $0.00 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These performance-based restricted stock units ("PRSUs") were granted on February 24, 2020, with vesting based on the total stockholder return ("TSR") to holders of Company common stock during a three-year performance period that concluded on February 14, 2023. Based on the TSR over the the performance period, 150% of the shares underlying the PRSUs, or 274,245 shares, vested in accordance with the terms set forth in DEF 14A filed by the Company with the U.S. Securities and Exchange Commission on April 28, 2021, upon the approval of the Compensation Committee of the Board of Directors of the Company on February 17, 2023.
F2 Each restricted stock unit represents a contingent right to receive one share of HLIT common stock.
F3 One third (33.33%) of the Shares subject to the Restricted Stock Units are scheduled to vest on February 15, 2024, and approximately 8.33% of the remaining Restricted Stock Units will vest each three months thereafter, so as to be 100% vested on the third anniversary of the RSU Vesting Commencement Date.