0000807863-23-000156.txt : 20231212
0000807863-23-000156.hdr.sgml : 20231212
20231212135647
ACCESSION NUMBER: 0000807863-23-000156
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20231130
FILED AS OF DATE: 20231212
DATE AS OF CHANGE: 20231212
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Diamond Michael E
CENTRAL INDEX KEY: 0001590840
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-35231
FILM NUMBER: 231480716
MAIL ADDRESS:
STREET 1: 600 B STREET
STREET 2: SUITE 100
CITY: SAN DIEGO
STATE: CA
ZIP: 92101
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: MITEK SYSTEMS INC
CENTRAL INDEX KEY: 0000807863
STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577]
IRS NUMBER: 870418827
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0930
BUSINESS ADDRESS:
STREET 1: 600 B STREET
STREET 2: SUITE 100
CITY: SAN DIEGO
STATE: CA
ZIP: 92101
BUSINESS PHONE: 619-269-6800
MAIL ADDRESS:
STREET 1: 600 B STREET
STREET 2: SUITE 100
CITY: SAN DIEGO
STATE: CA
ZIP: 92101
4
1
wk-form4_1702407398.xml
FORM 4
X0508
4
2023-11-30
0
0000807863
MITEK SYSTEMS INC
MITK
0001590840
Diamond Michael E
600 B STREET, SUITE 100
SAN DIEGO
CA
92101
0
0
0
1
General Manager
0
Common Stock
2023-11-30
4
M
0
9018
0
A
275542
D
Common Stock
2023-12-01
4
S
0
1996
11.07
D
273546
D
Common Stock
2023-12-07
4
S
0
1765
10.86
D
271781
D
Common Stock
2023-12-07
4
S
0
2473
10.86
D
269308
D
Common Stock
2023-12-07
4
S
0
3004
10.86
D
266304
D
Performance Restricted Stock Units
2023-11-30
4
M
0
9018
0
D
Common Stock
9018
90051
D
Performance restricted stock units convert into common stock on a one-for-one basis.
Represents the disposition of shares that were automatically sold by the Issuer to pay withholding taxes upon the vesting of 6,109 restricted stock units.
Represents the disposition of shares that were automatically sold by the Issuer to pay withholding taxes upon the vesting of 5,349 performance restricted stock units.
Represents the disposition of shares that were automatically sold by the Issuer to pay withholding taxes upon the vesting of 7,470 performance restricted stock units.
Represents the disposition of shares that were automatically sold by the Issuer to pay withholding taxes upon the vesting of 9,018 performance restricted stock units.
On November 28, 2022, the reporting person was granted restricted stock units under the Issuer'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.
The annual performance criteria for each annual Performance Period shall be for the % increase in value of the Issuer'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.
Additionally, a portion of the Performance RSUs may vest during a later Performance Period if the cumulative % increase in value of the Issuer's common stock measured over the current and all previous Performance Periods exceeds the cumulative % increase in value of the Russell 2000 Index.
/s/ Michael Diamond
2023-12-12