| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP 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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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
POLYCOM INC [ PLCM ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 02/20/2010 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 02/20/2010 | M | 1,525 | A | $0 | 2,104 | D | |||
| Common Stock | 02/20/2010 | F | 570 | D | $26.2 | 1,534 | D | |||
| Common Stock | 02/20/2010 | M | 1,250 | A | $0 | 2,784 | D | |||
| Common Stock | 02/20/2010 | F | 550 | D | $26.2 | 2,234 | D | |||
| Common Stock | 02/20/2010 | M | 1,500 | A | $0 | 3,734 | D | |||
| Common Stock | 02/20/2010 | F | 655 | D | $26.2 | 3,079 | D | |||
| Common Stock | 02/21/2010 | M | 1,982 | A | $0 | 5,061 | D | |||
| Common Stock | 02/21/2010 | F | 727 | D | $26.2 | 4,334 | D | |||
| Common Stock | 02/22/2010 | S | 579 | D | $26.0012 | 3,755 | D | |||
| Common Stock | 02/22/2010 | S | 600 | D | $26 | 3,155 | D | |||
| Common Stock | 02/22/2010 | S | 2,310 | D | $25.99 | 845 | D | |||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Performance Shares | $0 | 02/20/2010 | M | 1,525(1) | (1) | (1) | Common Stock | 1,525 | $0 | 2,500 | D | ||||
| Restricted Stock Units | $0 | 02/20/2010 | M | 1,250 | (2) | (2) | Common Stock | 1,250 | $0 | 2,500 | D | ||||
| Restricted Stock Units | $0 | 02/20/2010 | M | 1,500 | (3) | (3) | Common Stock | 1,500 | $0 | 1,500 | D | ||||
| Performance Shares | $0 | 02/21/2010 | M | 1,982 | (4) | (4) | Common Stock | 1,982 | $0 | 0 | D | ||||
| Explanation of Responses: |
| 1. Performance Shares converted on a one-for-one basis into shares of Polycom, Inc. common stock following vesting, The unvested award was previously reported at target payout amount. The 2/20/10 vesting reflects a payout of shares based upon achievement at 122% of target for the 2009 Performance Period. Vesting of the remaining award depends on future performance versus target and is scheduled to occur on 2/20/11 and 2/20/12, or if later, the date the Compensation Committee certifies achievement of performance versus targets for Total Shareholder Return for the remaining Performance Periods. |
| 2. Restricted Stock Units will be converted on a one-for-one basis into shares of Polycom, Inc. common stock following vesting, which vesting for 1,250 shares occurred on 2/20/2010. Vesting for the remaining shares under this award is scheduled to occur as to 1,250 shares on 2/20/2011 and 1,250 shares on 2/20/2012. |
| 3. This Restricted Stock Unit Award is scheduled to vest as to 50% of the total shares awarded on each of the first two (2) anniversaries of the 2/20/09 Grant Date. |
| 4. Performance Shares will be converted on a one-for-one basis into shares of Polycom, Inc. common stock as soon as practicable following vesting, which vesting occurred for the final 1,982 shares from this award on 2/21/2010. |
| Remarks: |
| /s/ Laura M. Balma, Attorney-in-Fact for Laura J. Durr | 02/23/2010 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * 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). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| 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 Number. | ||