0000709283-21-000020.txt : 20210519
0000709283-21-000020.hdr.sgml : 20210519
20210519085514
ACCESSION NUMBER: 0000709283-21-000020
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20210511
FILED AS OF DATE: 20210519
DATE AS OF CHANGE: 20210519
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Lerner James J
CENTRAL INDEX KEY: 0001602567
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-13449
FILM NUMBER: 21938495
MAIL ADDRESS:
STREET 1: C/O SEAGATE TECHNOLOGY PLC
STREET 2: 10200 S. DEANZA BLVD.
CITY: CUPERTINO
STATE: CA
ZIP: 95014
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: QUANTUM CORP /DE/
CENTRAL INDEX KEY: 0000709283
STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER STORAGE DEVICES [3572]
IRS NUMBER: 942665054
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0331
BUSINESS ADDRESS:
STREET 1: 224 AIRPORT PARKWAY
STREET 2: SUITE 550
CITY: SAN JOSE
STATE: CA
ZIP: 95110
BUSINESS PHONE: 408 944 4000
MAIL ADDRESS:
STREET 1: 224 AIRPORT PARKWAY
STREET 2: SUITE 550
CITY: SAN JOSE
STATE: CA
ZIP: 95110
4
1
wf-form4_162142890030822.xml
FORM 4
X0306
4
2021-05-11
0
0000709283
QUANTUM CORP /DE/
QMCO
0001602567
Lerner James J
C/O QUANTUM CORPORATION
224 AIRPORT PARKWAY, SUITE 550
SAN JOSE
CA
95110
1
1
0
0
Pres. & CEO, Chairman of Board
Common Stock
2021-05-11
4
A
0
160000
0
A
1622918
D
Common Stock
2021-05-11
4
M
0
120000
0
A
1742918
D
Performance-Based Restricted Stock Units
2021-05-11
4
M
0
80000
0
D
2029-09-06
Common Stock
80000.0
0
D
Performance-Based Restricted Stock Units
2021-05-11
4
M
0
80000
0
D
2025-07-01
Common Stock
80000.0
0
D
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 third achievement date occurred on May 11, 2021, 2021, as certified by the leadership and compensation committee of QMCO, resulting in 80,000 units meeting the appropriate performance-based conditions. However, these shares remain subject to time-based vesting conditions and will therefore vest on September 5, 2022, subject to continued employment. These shares are reflected on Table I, and no units remain that are subject to these performance-based and time-based vesting conditions.
Performance-Based Restricted Stock Units were previously reported on July 2, 2020, which vest in two 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 second achievement date occurred on May 11, 2021, as certified by the leadership and compensation committee of QMCO, resulting in 80,000 units meeting the appropriate performance-based conditions. However, these shares remain subject to time-based vesting conditions and will therefore vest on July 1, 2023, subject to continued employment. These shares are reflected on Table I, and no units remain that are subject to these performance-based and time-based vesting conditions.
Grant of Performance-Based Restricted Stock Units ("PSUs"), each of which represents a contingent right to receive one share of common stock of QMCO, acquired with vesting subject to the achievement of specified performance-based conditions, occurred on May 11, 2021 as certified by the leadership and compensation committee of QMCO, resulting in 120,000 units for the Free Cash Flow results based on the Company's performance as of March 31, 2021 (end of QMCO's Fiscal 2021 Year). 100% of PSUs are earned as 100% of the free cash flow target performance goal is achieved. However, these shares remain subject to time-based vesting conditions and will therefore vest in equal installments with 1/3rd July 1, 2021, 1/3rd July 1, 2022 and 1/3rd July 1, 2023, subject to continued employment.
/s/ Josie Buensuceso, Attorney-in-Fact for James J. Lerner
2021-05-19