Dhrupad Trivedi - Jan 29, 2024 Form 4 Insider Report for A10 Networks, Inc. (ATEN)

Role
Chief Executive Officer, Director
Signature
/s/ Jill Osato, Attorney-in-fact
Stock symbol
ATEN
Transactions as of
Jan 29, 2024
Transactions value $
-$291,943
Form type
4
Date filed
1/31/2024, 04:13 PM
Previous filing
Jan 26, 2024
Next filing
Feb 6, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ATEN Common Stock Sale -$292K -21.5K -4.45% $13.58 462K Jan 29, 2024 Direct F1, F2
transaction ATEN Common Stock Award $0 +133K +28.72% $0.00 594K Jan 30, 2024 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 Award $0 +199K $0.00 199K Jan 30, 2024 Common Stock 199K Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 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.
F2 This is the weighted average price of the shares sold, which ranged from $13.58 to $13.62 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
F3 Each share is represented by a Restricted Stock Unit ("RSU"). One-third (1/3) of the total RSUs will vest on each of the first three (3) anniversaries of the Vesting Commencement Date (2/1/2024), provided that the Reporting Person continues to serve through each such vesting date.
F4 Each share is represented by a Performance-based Restricted Stock Unit ("PSU").
F5 Grant of 198,821 Performance-Based Restricted Stock Units, 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 period between January 30, 2024 and January 30, 2028 (each, a "Performance Milestone"). Upon achievement of a Performance Milestone, vesting is subject to continued employment with the Company through the applicable vesting date, with one-half (1/2) vesting within thirty (30) days of achievement of the Performance Milestone and an additional one-fourth (1/4) vesting on each of the first and second anniversaries of the date of achievement of the corresponding Performance Milestone.