Form 4 for MITK MITEK SYSTEMS INC
Accepted 2023-11-29 00:00:00 ET · period of report 2023-11-26 · accession 0000807863-23-000141 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DM | 2023-11-29 | 2023-11-26+ | MITK | Diamond Michael E | General Manager | M - OptEx | $0.00 | +12.8K | 223.8K | +6% | $0 |
| DM | 2023-11-29 | 2023-11-26+ | MITK | Diamond Michael E | General Manager | M - OptEx | $0.00 | -12.8K | 59.7K | -18% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2023-11-26 | M | A | 7,465 | $0.00 | 231,281 | D | — | — | (F1) Performance restricted stock units convert into common stock on a one-for-one basis. |
| 2 | Common | Common Stock | 2023-11-27 | M | A | 5,345 | $0.00 | 223,816 | D | — | — | (F1) Performance restricted stock units convert into common stock on a one-for-one basis. |
| 3 | Derivative | Performance Restricted Stock Units | 2023-11-26 | M | D | 7,465 | $0.00 | 52,196 | D | — · — to — | 7,465 Common Stock | (F3) The annual performance criteria for each annual Performance Period shall be for the % increase in value of Mitek's common stock to meet or exceed the % increase in value of the Russell 2000 Index over the applicable annual Performance Period, based on a hypothetical investment in both Mitek's common stock and the Russell 2000 Index with a purchase price equal to the average closing price of each for the 20-trading days immediately preceding the start of the applicable Performance Period. At the end of the applicable Performance Period, the value of the hypothetical investments shall be determined by assuming the sale of each based on the average closing price of each from the immediately preceding 20-trading days. The % change shall be determined by comparing the increase in value to the starting investment. (F4) Additionally, a portion of the Performance RSUs may vest during a later Performance Period if the cumulative % increase in value of Mitek common stock measured over the current and all previous Performance Periods exceeds the cumulative % increase in value of the Russell 2000 Index. (F5) On November 26, 2021, the reporting person was granted restricted stock units under Mitek's 2020 Incentive Plan (the "Performance RSUs"), which vest based upon the achievement of certain performance criteria over the three year period following the date of grant (each such year, a "Performance Period"), with up to 33% of such units vesting (on each anniversary of the date of grant) with respect to each applicable Performance Period. Performance criteria is measured on both an annual and cumulative basis as described below. |
| 4 | Derivative | Performance Restricted Stock Units | 2023-11-27 | M | D | 5,345 | $0.00 | 59,661 | D | — · — to — | 5,345 Common Stock | (F3) The annual performance criteria for each annual Performance Period shall be for the % increase in value of Mitek's common stock to meet or exceed the % increase in value of the Russell 2000 Index over the applicable annual Performance Period, based on a hypothetical investment in both Mitek's common stock and the Russell 2000 Index with a purchase price equal to the average closing price of each for the 20-trading days immediately preceding the start of the applicable Performance Period. At the end of the applicable Performance Period, the value of the hypothetical investments shall be determined by assuming the sale of each based on the average closing price of each from the immediately preceding 20-trading days. The % change shall be determined by comparing the increase in value to the starting investment. (F2) On November 27, 2020, the reporting person was granted restricted stock units under Mitek's 2020 Incentive Plan (the "Performance RSUs"), which vest based upon the achievement of certain performance criteria over the three year period following the date of grant (each such year, a "Performance Period"), with up to 33% of such units vesting (on each anniversary of the date of grant) with respect to each applicable Performance Period. Performance criteria is measured on both an annual and cumulative basis as described below. |