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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 | ||||||||
Non-Qualified Stock Option (right to buy) | $ 3.28 | 12/13/2007 | A | 32,500 | 12/13/2008(2) | 12/13/2017 | Common Stock | 32,500 | $ 3.28 | 32,500 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
MUTCH JOHN C/O MV ADVISORS, LLC 420 STEVENS AVE., STE 270 SOLANA BEACH, CA 92075 |
X |
By: John Westfield For: John Mutch | 12/17/2007 | |
**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) | Represents a Restricted Stock Award from Adaptec Inc's 2006 Director Plan for 16,250 shares of common stock that would vest with respect to 33.33% of the shares on the first anniversary of the grant date and 8.33% of the shares quarterly thereafter, such that the award is fully vested on December 13, 2010. |
(2) | A total of 32,500 of Non-Qualified Stock Options were granted on December 13, 2007 from Adaptec Inc's 2006 Director Plan. The option shall vest at a rate of 33.33% of the shares on the first anniversary of the grant date and 8.33% of the shares quarterly thereafter, such that the total option shares will be fully vested on December 13, 2010. |