0001209191-15-069191.txt : 20150902
0001209191-15-069191.hdr.sgml : 20150902
20150902174810
ACCESSION NUMBER: 0001209191-15-069191
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20150831
FILED AS OF DATE: 20150902
DATE AS OF CHANGE: 20150902
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: ALTERA CORP
CENTRAL INDEX KEY: 0000768251
STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674]
IRS NUMBER: 770016691
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 101 INNOVATION DR
CITY: SAN JOSE
STATE: CA
ZIP: 95134
BUSINESS PHONE: 408.544.8790
MAIL ADDRESS:
STREET 1: 101 INNOVATION DR
CITY: SAN JOSE
STATE: CA
ZIP: 95134
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: DAANE JOHN
CENTRAL INDEX KEY: 0001227180
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-16617
FILM NUMBER: 151090396
MAIL ADDRESS:
STREET 1: ALTERA CORP
STREET 2: 101 INNOVATION DR
CITY: SAN JOSE
STATE: CA
ZIP: 95134
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2015-08-31
0
0000768251
ALTERA CORP
ALTR
0001227180
DAANE JOHN
101 INNOVATION DRIVE
SAN JOSE
CA
95134
1
1
0
0
President and CEO
Common Stock
2015-08-31
4
M
0
22180
0.00
A
654356
D
Common Stock
2015-08-31
4
F
0
11574
48.55
D
642782
D
Common Stock
270000
I
By Trust
Preformance Restricted Stock Unit
2015-08-31
4
M
0
22180
0.00
D
2015-08-31
2022-07-30
Common Stock
22180
0
D
The number of performance restricted stock units ("PSRUs") that vested was determined by comparing Altera's total shareholder return ("TSR") to the TSR of the Philadelphia Semiconductor Total Return Index (the "Index") over a three-year period commencing July 30, 2012 and ending July 31, 2015 (the "Performance
Period"). TSR is calculated based on the change in a company's stock price during the three-year period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock. In accordance with the terms of the award, the beginning value used for calculating TSR is the average closing stock price for the 20 trading days prior to July 30, 2012. Altera's beginning value was calculated to be $32.77 (adjusted for dividends). Similarly, the ending value used for calculating TSR is the average closing price for the 20 trading days ending on July 31, 2015. Altera's ending value was calculated to be $53.36 (adjusted for dividends).
Mr. Daane's award provides that each 1% difference between Altera's TSR and the Index TSR at the end of the Performance Period will result in a 2% upwards or downwards adjustment to Mr. Daane's payout percentage. As of the conclusion of the Performance Period, Altera's TSR for the three-year period was 62.84%, which underperformed the TSR of the Index by 32.32%. Therefore, 33.36% of the target is earned. Based on the 66,489 target number of PSRUs, 22,181 of the PRSUs vested.
Shares of common stock were withheld at vesting to cover required tax withholding. The fair market value of Altera common stock used for purposes of calculating the number of shares to be withheld was the closing price of Altera common stock as reported on the NASDAQ Stock Market on such vesting date.
Each Restricted Stock Unit ("RSU") represents a contingent right to receive at settlement one share of Altera common stock at no cost.
/s/ John Daane
2015-09-02