X0303 4 2010-04-09 1 0001116435 AIRVANA INC AIRV 0001106824 DESHPANDE GURURAJ C/O SPARTA GROUP MA LLC SERIES 5 92 MONTVALE AVENUE, SUITE 2500 STONEHAM MA 02180 1 0 1 0 Common Stock 2010-04-09 4 D 0 8598069 D 0 I See footnote. Stock Option (Right to Buy) 7.00 2010-04-09 4 D 0 37509 0.65 D 2017-07-18 Common Stock 37509 0 D Stock Option (Right to Buy) 5.71 2010-04-09 4 D 0 18754 1.94 D 2018-05-21 Common Stock 18754 0 D Stock Option (Right to Buy) 5.22 2010-04-09 4 D 0 18754 2.43 D 2019-05-18 Common Stock 18754 0 D Disposed of pursuant to the Agreement and Plan of Merger, dated as of December 17, 2009, by and among the issuer, 72 Mobile Holdings, LLC and 72 Mobile Acquisition Corp. in exchange for a cash payment of $65,775,227.85 ($7.65 per share) on the effective date of the merger. Held by Sparta Group MA LLC Series 5 (the "LLC"), of which the Reporting Person and his spouse, Jaishree Deshpande, are Managers. The Reporting Person disclaims beneficial ownership of the securities held by the LLC, except to the extent of any pecuniary interest therein. This option, which provided for vesting as to 25% of the underlying shares on July 19, 2008 and as to an additional 6.25% each three-month period thereafter until the fourth anniversary of the date of grant, was canceled in the merger in exchange for a cash payment of $24,380.85 representing the difference between the exercise price of the option and the market value of the underlying common stock on the effective date of the merger ($7.65 per share). This option, which provided for vesting as to 50% of the shares on the first anniversary of the date of grant and with respect to an additional 12.5% of the shares at the end of each successive three-month period thereafter until the second anniversary of the date of grant, was canceled in the merger in exchange for a cash payment of $36,382.76 representing the difference between the exercise price of the option and the market value of the underlying common stock on the effective date of the merger ($7.65 per share). This option, which provided for vesting as to 50% of the shares on the first anniversary of the date of grant and with respect to an additional 12.5% of the shares at the end of each successive three-month period thereafter until the second anniversary of the date of grant, was canceled in the merger in exchange for a cash payment of $45,572.22 representing the difference between the exercise price of the option and the market value of the underlying common stock on the effective date of the merger ($7.65 per share). /s/ Servjeet S. Bhachu, Attorney-in-Fact for Gururaj Deshpande 2010-04-13