PATRICK HARSHMAN - 15 Feb 2024 Form 4 Insider Report for HARMONIC INC (HLIT)

Role
President and CEO, Director
Signature
/s/ Wendi Ninh, Attorney-in-Fact
Issuer symbol
HLIT
Transactions as of
15 Feb 2024
Net transactions value
-$2,760,739
Form type
4
Filing time
20 Feb 2024, 21:56:52 UTC
Previous filing
17 Nov 2023
Next filing
17 May 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HLIT Common Stock Options Exercise $0 +297,989 +47% $0.000000 937,734 15 Feb 2024 Direct F1
transaction HLIT Common Stock Tax liability $2,176,250 -159,199 -17% $13.67 778,535 15 Feb 2024 Direct
transaction HLIT Common Stock Options Exercise $0 +80,147 +10% $0.000000 858,682 15 Feb 2024 Direct
transaction HLIT Common Stock Tax liability $584,488 -42,757 -5.2% $13.67 780,393 15 Feb 2024 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction HLIT Restricted Stock Units Options Exercise $0 -16,555 -100% $0.000000* 0 15 Feb 2024 Common Stock 16,555 $0.000000 Direct F3
transaction HLIT Restricted Stock Units Options Exercise $0 -13,684 -20% $0.000000 54,735 15 Feb 2024 Common Stock 13,684 $0.000000 Direct F3
transaction HLIT Restricted Stock Units Options Exercise $0 -49,908 -33% $0.000000 99,814 15 Feb 2024 Common Stock 49,908 $0.000000 Direct F3
transaction HLIT Restricted Stock Units Award $0 +221,953 $0.000000 221,953 16 Feb 2024 Common Stock 221,953 $0.000000 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These performance-based restricted stock units ("PRSUs") were grated on February 16, 2021, with vesting based on the total stockholder return ("TSR") to holders of Company common stock during a three-year performance period that concluded on February 14, 2023. Based on the TSR over the the performance period, 150% of the shares underlying the PRSUs, or 297,989 shares, vested in accordance with the terms set forth in DEF 14A filed by the Company with the U.S. Securities and Exchange Commission on April 29, 2022, upon the approval of the Compensation Committee of the Board of Directors of the Company on February 15, 2024.
F2 Reflects an adjustment of 35,532 shares of common stock transferred to the reporting person's former spouse pursuant to a marital settlement agreement. The reporting person no longer reports as beneficially owned any securities owned by his former spouse.
F3 Each restricted stock unit represents a contingent right to receive one share of HLIT common stock.
F4 One third (33.33%) of the Shares subject to the Restricted Stock Units are scheduled to vest on February 15, 2025, and approximately 8.33% of the remaining Restricted Stock Units will vest each three months thereafter, so as to be 100% vested on the third anniversary of the RSU Vesting Commencement Date.