Matthew P. Bruening - Feb 2, 2023 Form 4 Insider Report for A10 Networks, Inc. (ATEN)

Signature
/s/ Jill Osato, Attorney-in-fact
Stock symbol
ATEN
Transactions as of
Feb 2, 2023
Transactions value $
-$24,204
Form type
4
Date filed
2/3/2023, 06:46 PM
Previous filing
Feb 1, 2023
Next filing
Feb 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ATEN Common Stock Options Exercise $0 +12.2K +10.41% $0.00 129K Feb 2, 2023 Direct F1
transaction ATEN Common Stock Sale -$24.2K -1.53K -1.18% $15.83 128K Feb 2, 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 ATEN Performance-based Restricted Stock Units Options Exercise $0 -12.2K -33.34% $0.00 24.4K Feb 2, 2023 Common Stock 12.2K $0.00 Direct F1
* 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 January 27, 2022, 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 January 25, 2022 and January 25, 2026. The first achievement date occurred on January 23, 2023, as certified by the compensation committee of ATEN, resulting in 12,179 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 February 13, 2023 and an additional one-third (1/3) to vest on the each of the first and second anniversaries of January 23, 2023, subject to continued employment.
F2 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.