Dhrupad Trivedi - Aug 2, 2021 Form 4 Insider Report for A10 Networks, Inc. (ATEN)

Role
Chief Executive Officer, Director
Signature
/s/ Robert Cochran, as Attorney-in-Fact
Stock symbol
ATEN
Transactions as of
Aug 2, 2021
Transactions value $
-$61,324
Form type
4
Date filed
8/12/2021, 04:04 PM
Next filing
Aug 20, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ATEN Common Stock Options Exercise $0 +39.6K +9.54% $0.00 455K Aug 2, 2021 Direct F1
transaction ATEN Common Stock Options Exercise $0 +125K +27.5% $0.00 580K Aug 10, 2021 Direct F2
transaction ATEN Common Stock Sale -$61.3K -4.6K -0.79% $13.34 575K Aug 10, 2021 Direct F3

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 ATEN Performance-based Restricted Stock Units Options Exercise $0 -39.6K -33.33% $0.00 79.2K Aug 2, 2021 Common Stock 39.6K Direct F1
transaction ATEN Performance-based Restricted Stock Units Options Exercise $0 -125K -100% $0.00* 0 Aug 10, 2021 Common Stock 125K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Performance-Based Restricted Stock Units were previously reported on February 4, 2021, each of which represents a contingent right to receive one share of common stock of ATEN, with vesting subject to the achievement of specified levels of the volume weighted average closing prices of a share of ATEN common stock during any one hundred (100) day trading period between February 2, 2021 and February 2, 2025. The achievement of the first milestone occurred on July 30, 2021, as certified by the compensation committee August 2, 2021, resulting in 39,587 units meeting the appropriate performance-based conditions. However, these shares remain subject to time-based vesting conditions and will therefore vest as to one-third (1/3) on August 9, 2021 and an additional one-third (1/3) on each of the first and second anniversaries of July 30, 2021, subject to continued employment. These shares are reflected on Table I.
F2 Performance-Based Restricted Stock Units were previously reported on December 16, 2019, each of which represents a contingent right to receive one share of common stock of ATEN, with vesting subject to the achievement of specified levels of the volume weighted average closing prices of a share of ATEN common stock during any one hundred (100) day trading period between December 12, 2019 and December12, 2023. The last achievement date occurred on August 5, 2021, as certified by the compensation committee of ATEN on August 10, 2021, resulting in 125,000 units meeting the appropriate performance-based conditions. However, these shares remain subject to time-based vesting conditions and will therefore vest as to one-third (1/3) on the first, second and third anniversaries of achievement of the milestone, subject to continued employment. These shares are reflected on Table I.
F3 Represents the number of shares automatically sold, on a non-discretionary basis, to cover tax withholding obligations in connection with the vesting of restricted stock units.