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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 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 | ||||||||
| Performance-Based Restricted Stock Units | (1) | 03/17/2020 | M | 16,666 | (1) | 06/01/2022 | Common Stock | 16,666.00 | $ 0 | 0 | D | ||||
| Performance-Based Restricted Stock Units | (2) | 03/17/2020 | M | 16,000 | (2) | 09/06/2029 | Common Stock | 16,000.00 | $ 0 | 32,000 | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
| Moorehead Lewis W. C/O QUANTUM CORPORATION 224 AIRPORT PARKWAY SUITE 550 SAN JOSE, CA 95110 |
Chief Accounting Officer | |||
| /s/ Josie Buensuceso, Attorney-in-Fact for Lewis Moorehead | 03/18/2020 | |
| **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) | Performance-Based Restricted Stock Units were previously reported on October 2, 2019, which vest in three equal components upon the later of achievement of specified levels of the average closing prices of a share of QMCO common stock during any sixty (60) day trading period between June 1, 2018 and May 31, 2022, and upon specified service dates, whichever is later. The third achievement date occurred on March 17, 2020, as certified by the leadership and compensation committee of QMCO, resulting in 16,666 units meeting the appropriate performance-based conditions. However, these shares remain subject to time-based vesting conditions and will therefore vest on May 31, 2021, subject to continued employment. These shares are reflected on Table I, and no units remain subject to these performance-based and time-based vesting conditions. |
| (2) | Performance-Based Restricted Stock Units were previously reported on September 10, 2019, which vest in three equal components upon the later of achievement of specified levels of the average closing prices of a share of QMCO common stock during any hundred (100) calendar day period, and upon specified service dates, whichever is later. The first achievement date occurred on March 17, 2020, as certified by the leadership and compensation committee of QMCO, resulting in 16,000 units meeting the appropriate performance-based conditions. However, these shares remain subject to time-based vesting conditions and will therefore vest on September 5, 2020, subject to continued employment. These shares are reflected on Table I, and 32,000 units remaining subject to these performance-based and time-based vesting conditions. |