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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Restricted Stock Units | (1) | 02/27/2009 | A | 18,646 | (2) | (2) | Common Stock | 18,646 | $ 0 | 18,646 | D | ||||
Restricted Stock Units | (1) | 02/27/2009 | A | 37,293 | (3) | (3) | Common Stock | 37,293 | $ 0 | 37,293 | D | ||||
Restricted Stock Units | (1) | 02/27/2009 | M | 30,000 | (4) | (4) | Common Stock | 30,000 | $ 0 | 30,000 | D | ||||
Restricted Stock Units | (1) | 02/27/2009 | M | 7,500 | (5) | (5) | Common Stock | 7,500 | $ 0 | 22,500 | D | ||||
Restricted Stock Units | (1) | 02/27/2009 | M | 60,715 | (6) | (6) | Common Stock | 60,715 | $ 0 | 0 | D | ||||
Restricted Stock Units | (1) | 02/27/2009 | M | 15,178 | (7) | (7) | Common Stock | 15,178 | $ 0 | 30,357 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Patel Viraj J C/O UTSTARCOM, INC., 1275 HARBOR BAY PARKWAY ALAMEDA, CA 95402 |
Int CFO, VP, Controller & CAO |
/s/ Viraj J. Patel | 03/03/2009 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Each restricted stock unit represents a contingent right to receive one share of UTStarcom common stock. |
(2) | The restricted stock units vest in installments beginning: 25% on February 26, 2010; and 25% annually thereafter, subject to Mr. Patel's continued service to the Company through each applicable vesting date. |
(3) | The restricted stock units vest as follows: 50% of the shares shall vest on February 26, 2010 and February 28, 2011, subject to Mr. Patel's continued service to the Company through each applicable vesting date. |
(4) | The restricted stock units vest in two equal annual installments beginning: 50% on February 27, 2009; and 50% on February 26, 2010. |
(5) | The restricted stock units vest 25% on each of February 27, 2009 and 25% annually thereafter. |
(6) | The remaining restricted stock units vested on February 27, 2009. |
(7) | The remaining restricted stock units vest in equal amounts on each of February 27, 2009, February 26, 2010 and February 29, 2011. |
(8) | Includes 2500 shares acquired on November 19, 2008 and 2500 shares acquired on January 28, 2009 under the UTStarcom, Inc. employee stock purchase plan. |
(9) | The 6,670 shares were sold through separate trades, with the sale prices ranging from $0.860 to $1.00, and at a weighted average sale price of $0.9292. The reporting person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate purchase price. |
(10) | The 13,203 shares were sold through separate trades, with the sale prices ranging from $0.750 to $0.862, and at a weighted average sale price of $0.7773. The reporting person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate purchase price. |