-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ELh0ixQ6c2FL0BYNcsgMYTrJAWE1kgoPxWUy/iwQPq+rJaL+KOVdCLYB/xQC3gfc x3OA419ZXDlQlk1dSHfdRA== 0000881890-06-000011.txt : 20060427 0000881890-06-000011.hdr.sgml : 20060427 20060427190028 ACCESSION NUMBER: 0000881890-06-000011 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060425 FILED AS OF DATE: 20060427 DATE AS OF CHANGE: 20060427 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: ABAXIS INC CENTRAL INDEX KEY: 0000881890 STANDARD INDUSTRIAL CLASSIFICATION: IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835] IRS NUMBER: 770213001 STATE OF INCORPORATION: CA FISCAL YEAR END: 0331 BUSINESS ADDRESS: STREET 1: 3240 WHIPPLE STREET 2: ROAD CITY: UNION CITY STATE: CA ZIP: 94587 BUSINESS PHONE: (510) 675-6500 MAIL ADDRESS: STREET 1: 3240 WHIPPLE STREET 2: ROAD CITY: UNION CITY STATE: CA ZIP: 94587 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: SEVERSON CLINTON CENTRAL INDEX KEY: 0001191152 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-19720 FILM NUMBER: 06786725 MAIL ADDRESS: STREET 1: C/O ABAXIS INC STREET 2: 3240 WHIPPLE ROAD CITY: UNION CITY STATE: CA ZIP: 94587 4 1 primary_doc.xml PRIMARY DOCUMENT X0202 4 2006-04-25 0 0000881890 ABAXIS INC ABAX 0001191152 SEVERSON CLINTON C/O ABAXIS INC 3240 WHIPPLE ROAD UNION CITY CA 94587 1 1 0 0 President,CEO & Board Chairman Restricted Stock Units 0 2006-04-25 4 A 0 40000 0 A 2007-04-25 2010-04-25 Common Stock 40000 1011499 D Restricted Stock Units 0 2006-04-25 4 A 0 50000 0 A 2007-04-25 2010-04-25 Common Stock 50000 1011499 D Each restricted stock unit represents a contingent right to receive one share of Abaxis common stock. Granted under the Abaxis 2005 Equity Incentive Plan. Restricted Stock Units vest as to 5%, 12 months from grant date; then vest as to 10%, 24 months from grant date, then vest as to 15%, 36 months from grant date; and then vest as to the remaining 70%, 48 months from grant date. The vesting of Restricted Stock Units is subject to acceleration upon achieving the following qualifers: (a) pre-tax income requirements within 12 months from grant date, vesting of 25%; within 24 months from grant date, vesting of 25%; within 36 months of grant date, vesting of 30%; (b) product development requirements within 14 months from grant date, additional vesting of 10%; (c) regulatory requirements within 23 months of grant date, additional vesting of 10%; or (d) operating income per share requirements in any fiscal period, full acceleration. Includes: (1) 169,999 common stock; (2) 90,000 restricted stock units; and (3) 751,500 shares subject to options exercisable by Mr. Severson and 12,500 shares unvested as of 04/26/2006. /s/ Clinton Severson 2006-04-27 -----END PRIVACY-ENHANCED MESSAGE-----