0001683168-18-001599.txt : 20180605
0001683168-18-001599.hdr.sgml : 20180605
20180605213012
ACCESSION NUMBER: 0001683168-18-001599
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20180601
FILED AS OF DATE: 20180605
DATE AS OF CHANGE: 20180605
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Benck Jeff
CENTRAL INDEX KEY: 0001397573
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-16027
FILM NUMBER: 18882837
MAIL ADDRESS:
STREET 1: LANTRONIX INC.
STREET 2: 7535 IRVINE CENTER DRIVE, SUITE 100
CITY: IRVINE
STATE: CA
ZIP: 92618
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: LANTRONIX INC
CENTRAL INDEX KEY: 0001114925
STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER COMMUNICATIONS EQUIPMENT [3576]
IRS NUMBER: 330362767
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0630
BUSINESS ADDRESS:
STREET 1: 7535 IRVINE CENTER DR., SUITE 100
CITY: IRVINE
STATE: CA
ZIP: 92618
BUSINESS PHONE: 9494533990
MAIL ADDRESS:
STREET 1: 7535 IRVINE CENTER DR., SUITE 100
CITY: IRVINE
STATE: CA
ZIP: 92618
4
1
benck_f4-060118.xml
OWNERSHIP DOCUMENT
X0306
4
2018-06-01
0
0001114925
LANTRONIX INC
LTRX
0001397573
Benck Jeff
C/O LANTRONIX, INC.
7535 IRVINE CENTER DRIVE, #100
IRVINE
CA
92618
1
1
0
0
Chief Executive Officer
Common Stock
2018-06-01
4
M
0
37500
0
A
284074
D
Common Stock
2018-06-01
4
F
0
19044
3.46
D
265030
D
Common Stock
2018-06-04
4
M
0
25000
1.12
A
290030
D
Common Stock
2018-06-04
4
S
0
25000
3.37
D
265030
D
Restricted Stock Units
2018-06-01
4
M
0
37500
0
D
Common Stock
37500
75000
D
Stock Option (Right to buy)
1.12
2018-06-04
4
M
0
25000
0
D
2022-12-06
Common Stock
25000
125000
D
Represents Restricted Stock Units ("RSUs") granted on April 28, 2016 pursuant to an Inducement Restricted Stock Unit Agreement (the "RSU Agreement"). The remaining RSUs vest at the rate of 37,500 each quarter through December 2018. On each vesting date, for each RSU vesting on such date, the reporting person will receive one share of Lantronix, Inc. common stock.
In accordance with the terms of the RSU Agreement, 19,044 shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding.
Represents shares of common stock acquired via exercise of Stock Options granted on December 4, 2015 (the "Grant Date") under the Lantronix, Inc. Amended and Restated 2010 Stock Incentive Plan (the "2010 SIP").
This transaction was executed in multiple trades at prices ranging from $3.30 to $3.42. The price reported reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
The option vests according to the following schedule: (i) 25% of the option (37,500 shares) vested on September 1, 2017, which was the one year anniversary of the Vesting Commencement Date (September 1, 2016) and (ii) 1/48 of the option vests on each monthly anniversary of the Vesting Commencement Date thereafter, such that 100% of the option will be fully vested on the four year anniversary of the Vesting Commencement Date.
/s/ Jeremy Whitaker, Attorney-in-fact for Jeff Benck
2018-06-05