Weidong Chen - 08 Dec 2023 Form 4 Insider Report for Casa Systems Inc

Reporting relationship: Former Chief Technology Officer
Issuer ticker: N/A
Reported as of: 08 Dec 2023
Net transaction value: -$65,538
SEC form: 4
Accepted by SEC: 12 Dec 2023, 18:30:41 UTC
Prior SEC filing: 28 Feb 2023
Source filing: View source filing
Reporting owner signature: /s/ Timothy C. Rodenberger, as Attorney-in-Fact

Key filing fact

Weidong Chen filed Form 4 for Casa Systems Inc on 12 Dec 2023.

Key facts

This page summarizes Weidong Chen's Form 4 filing for Casa Systems Inc.
7 reported transactions and 5 derivative rows are listed below.
Accepted by SEC: 12 Dec 2023, 18:30.

Change

Previous filing in this sequence was filed on 28 Feb 2023.
Current net transaction value: -$65,538.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

CASA transaction

Common Stock

Options Exercise

Transaction value
Shares: +366,611
Change %: +16%
Price
Shares after: 2,658,412
Date: 08 Dec 2023
Ownership: Direct
Footnotes: F1

CASA transaction

Common Stock

Tax liability

Transaction value: $65,538
Shares: -121,366
Change %: -4.6%
Price: $0.5400
Shares after: 2,537,046
Date: 08 Dec 2023
Ownership: Direct
Footnotes: F2

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

CASA transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -53,303
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 08 Dec 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 53,303
Exercise price
Footnotes: F3, F4

CASA transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -47,934
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 08 Dec 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 47,934
Exercise price
Footnotes: F3, F5

CASA transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -241,407
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 08 Dec 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 241,407
Exercise price
Footnotes: F3, F6

CASA transaction Derivative

Restricted Stock Units

Award

Transaction value: $0
Shares: +23,967
Change %
Price: $0.000000
Shares after: 23,967
Date: 08 Dec 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 23,967
Exercise price
Footnotes: F3, F7

CASA transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -23,967
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 08 Dec 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 23,967
Exercise price
Footnotes: F3, F8

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

Weidong Chen is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 8 footnotes

Footnote F1

Restricted stock units ("RSUs") converted into common stock, $0.001 par value per share (the "Common Stock"), of Casa Systems, Inc. (the "Company") on a one-for-one basis upon vesting of the RSU.

Footnote F2

Shares withheld by the Company to satisfy tax withholding requirements on vesting of RSUs. No shares were sold.

Footnote F3

Each RSU represents the right to receive one share of Common Stock of Company upon vesting, subject to the reporting person's continued service relationship with the Company and the other terms and conditions set forth in the applicable RSU Agreement. In the sole discretion of the Company's board of directors, the Company may, with respect to any applicable vesting date, deliver to the reporting person Common Stock or cash having a fair market value equal to the number of shares of Common Stock underlying the portion of the RSU that vested on such date, payable within 30 days of the vesting date, less applicable taxes.

Footnote F4

Pursuant to the Separation Agreement entered into by the Company and the reporting person on November 17, 2023 (the "Separation Agreement"), the vesting of the RSUs granted to the reporting person on February 25, 2020, was fully accelerated and all of the shares underlying the award became vested as of December 8, 2023. The RSUs have no expiration date.

Footnote F5

Pursuant to the Separation Agreement, the vesting of the RSUs granted to the reporting person on February 23, 2021, was fully accelerated and all of the shares underlying the award became vested as of December 8, 2023. The RSUs have no expiration date.

Footnote F6

Pursuant to the Separation Agreement, the vesting of the RSUs granted to the reporting person on May 9, 2022, was fully accelerated and all of the shares underlying the award became vested as of December 8, 2023. The RSUs have no expiration date.

Footnote F7

These RSUs were granted to the reporting person on February 23, 2021, subject to performance-based vesting conditions. The vesting of these RSUs was fully accelerated as of December 8, 2023, pursuant to the Separation Agreement. These RSUs have no expiration date.

Footnote F8

SEC remarks

Former Chief Technology Officer