Statement of Changes in Beneficial Ownership (4)
March 25 2015 - 6:20PM
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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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
*
FAIZULLABHOY DANIAL
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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 BOULEVARD
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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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$19.1
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3/23/2015
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D
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3300
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(1)
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12/21/2016
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Common Stock
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3300.0
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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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2640
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(3)
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3/23/2022
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Common Stock
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2640.0
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(2)
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2640
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D
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Director Stock Option (right to buy)
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$134.6
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3/23/2015
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D
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1200
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(4)
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6/16/2016
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Common Stock
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1200.0
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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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$82.2
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3/23/2015
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D
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5000
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(4)
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2/13/2017
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Common Stock
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5000.0
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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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$71.6
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3/23/2015
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D
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1200
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(4)
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6/12/2017
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Common Stock
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1200.0
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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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$35.7
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3/23/2015
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D
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1200
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(4)
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6/5/2018
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Common Stock
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1200.0
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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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$16.2
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3/23/2015
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D
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1200
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(4)
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5/21/2019
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Common Stock
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1200.0
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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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$18.8
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3/23/2015
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D
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2500
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(4)
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6/8/2017
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Common Stock
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2500.0
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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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$14.1
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3/23/2015
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D
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2500
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(4)
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6/7/2018
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Common Stock
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2500.0
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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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2500
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(4)
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6/5/2019
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Common Stock
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2500.0
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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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15400
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(6)
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3/23/2022
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Common Stock
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15400.0
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(5)
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15400
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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: over three years at the rate of 1/36 each month on the same day of the month as the vesting commencement 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 12/21/2009. In exchange for the option to purchase 3,300 shares, the Reporting Person received a new option to purchase 2,640 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 06/03/2006, 02/13/2007, 06/12/2007, 06/12/2008, 05/21/2009, 06/08/2010, 06/07/2011, 06/05/2012, and 06/04/2013. In exchange for these options to cumulatively purchase 19,250 shares, the Reporting Person received a new option to purchase 15,400 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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FAIZULLABHOY DANIAL
C/O IKANOS COMMUNICATIONS, INC.
47669 FREMONT BOULEVARD
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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