Statement of Changes in Beneficial Ownership (4)
March 25 2015 - 6:19PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0287
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0.5
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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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1. Name and Address of Reporting Person
*
SMAHA JAMES
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2. Issuer Name
and
Ticker or Trading Symbol
IKANOS COMMUNICATIONS, INC.
[
IKAN
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__
X
__ Director
_____ 10% Owner
_____ Officer (give title below)
_____ Other (specify below)
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(Last)
(First)
(Middle)
C/O IKANOS COMMUNICATIONS, INC., 47669 FREMONT BLVD.
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3. Date of Earliest Transaction
(MM/DD/YYYY)
3/23/2015
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(Street)
FREMONT, CA 94538
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_
X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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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)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Table II - Derivative Securities Beneficially Owned (
e.g.
, puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3)
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2. Conversion or Exercise Price of Derivative Security
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3. Trans. Date
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3A. Deemed Execution Date, if any
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4. Trans. Code
(Instr. 8)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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6. Date Exercisable and Expiration Date
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7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
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8. Price of Derivative Security
(Instr. 5)
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9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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(A)
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(D)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Director Stock Option (right to buy)
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$32.1
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3/23/2015
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D
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4500
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(1)
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4/5/2017
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Common Stock
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4500.0
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(2)
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0
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D
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Director Stock Option (right to buy)
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$2.8
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3/23/2015
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A
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3600
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(3)
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3/23/2022
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Common Stock
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3600.0
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(2)
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3600
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D
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Director Stock Option (right to buy)
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$14.1
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3/23/2015
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D
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1000
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(4)
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6/7/2018
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Common Stock
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1000.0
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(5)
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0
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D
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Director Stock Option (right to buy)
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$7.5
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3/23/2015
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D
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1500
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(4)
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6/5/2019
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Common Stock
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1500.0
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(5)
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0
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D
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Director Stock Option (right to buy)
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$12.4
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3/23/2015
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D
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1950
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(4)
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6/4/2020
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Common Stock
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1950.0
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(5)
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0
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D
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Director Stock Option (right to buy)
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$2.8
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3/23/2015
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A
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3560
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(6)
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3/23/2022
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Common Stock
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3560.0
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(5)
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3560
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D
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Explanation of Responses:
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(
1)
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The canceled option provided for vesting as follows: one third on the one year anniversary of the transaction date and one twelve of the shares vest each quarter thereafter on the same day of the month as the transaction date.
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(
2)
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On March 23, 2015, the Issuer canceled, pursuant to the Issuer's option exchange program, options granted to the Reporting Person on 04/05/2010. In exchange for the option to purchase 4,500 shares, the Reporting Person received a new option to purchase 3,600 shares at a lower exercise price.
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(
3)
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These options vest monthly over 24 months.
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(
4)
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The canceled option provided for vesting as follows: monthly over 12 months.
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(
5)
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On March 23, 2015, the Issuer canceled, pursuant to the Issuer's option exchange program, options granted to the Reporting Person on 06/07/2011, 06/05/2012, and 06/04/2013. In exchange for these options to cumulatively purchase 4,450 shares, the Reporting Person received a new option to purchase 3,560 shares at a lower exercise price.
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(
6)
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These options vest monthly over 12 months.
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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SMAHA JAMES
C/O IKANOS COMMUNICATIONS, INC.
47669 FREMONT BLVD.
FREMONT, CA 94538
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X
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Signatures
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/s/ Andrew S. Hughes, by power of attorney
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3/25/2015
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**
Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person,
see
Instruction 4(b)(v).
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**
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Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See
18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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Note:
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File three copies of this Form, one of which must be manually signed. If space is insufficient,
see
Instruction 6 for procedure.
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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 control number.
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