0001140361-17-020181.txt : 20170512 0001140361-17-020181.hdr.sgml : 20170512 20170512191346 ACCESSION NUMBER: 0001140361-17-020181 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20170510 FILED AS OF DATE: 20170512 DATE AS OF CHANGE: 20170512 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: SILVER SPRING NETWORKS INC CENTRAL INDEX KEY: 0001180079 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER COMMUNICATIONS EQUIPMENT [3576] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 230 W. TASMAN DRIVE CITY: SAN JOSE STATE: CA ZIP: 95134 BUSINESS PHONE: 669-770-4000 MAIL ADDRESS: STREET 1: 230 W. TASMAN DRIVE CITY: SAN JOSE STATE: CA ZIP: 95134 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Gaglione Philippe CENTRAL INDEX KEY: 0001680040 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-35828 FILM NUMBER: 17840604 MAIL ADDRESS: STREET 1: C/O SILVER SPRING NETWORKS, INC. STREET 2: 230 W. TASMAN DRIVE CITY: SAN JOSE STATE: CA ZIP: 95134 4 1 doc1.xml FORM 4 X0306 4 2017-05-10 0 0001180079 SILVER SPRING NETWORKS INC SSNI 0001680040 Gaglione Philippe C/O SILVER SPRING NETWORKS, INC. 230 W. TASMAN DRIVE SAN JOSE CA 95134 0 1 0 0 EVP, Research & Development Common Stock 2017-05-10 4 M 0 18750 0 A 27640 D Common Stock 2017-05-10 4 F 0 7047 11.66 D 20593 D Restricted Stock Units 0 2017-05-10 4 M 0 18750 0 D Common Stock 18750 56250 D Restricted Stock Units 0 2017-05-10 4 A 0 51463 0 A Common Stock 51463 51463 D Performance Stock Unit 0 2017-05-10 4 A 0 30249 0 A Common Stock 30249 30249 D Vesting of restricted stock units ("RSUs") granted to the Reporting Person on May 10, 2016. Exempt transaction pursuant to Section 16b-3(e) for payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were relinquished to the Issuer by the Reporting Person and cancelled by the Issuer in exchange for the Issuer's agreement to pay federal and state tax withholding obligations of the Reporting Person resulting from the vesting of RSUs. The Reporting Person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than to cover required taxes. Each RSU or performance stock unit ("PSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration. 25% of the RSUs vested on May 10, 2017 and thereafter shall vest quarterly as to 1/16th of the total RSUs in equal installments with the first 1/16th vesting on August 10, 2017. Shares of the Issuer's common stock will be delivered to the Reporting Person following vesting. 25% of the RSUs vest on May 10, 2018 and thereafter shall vest quarterly as to 6.25% of the total RSUs with the first 6.25% vesting on August 10, 2018. Shares of the Issuer's common stock will be delivered to the Reporting Person following vesting. The PSUs will be eligible to vest based on the achievement of an internal financial performance metric, and if the performance metric is achieved thereafter the award is subject to time based vesting over 3 years with 1/3 vesting on each anniversary of the date of grant. /s/ Philippe Gaglione by Cecilia Hartwig, Attorney-in-Fact 2017-05-12