Statement of Changes in Beneficial Ownership (4)
17 April 2020 - 10:25PM
Edgar (US Regulatory)
FORM 4
[X]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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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
*
GOPALSWAMY SUDHIR |
2. Issuer Name and Ticker or Trading Symbol
CYPRESS SEMICONDUCTOR CORP /DE/
[
CY
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP, Microcontroller/Connect |
(Last)
(First)
(Middle)
198 CHAMPION COURT |
3. Date of Earliest Transaction
(MM/DD/YYYY)
4/16/2020 |
(Street)
SAN JOSE, CA 95134
(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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Common Stock | 4/16/2020 | | D | | 249298 | D | $23.85 (1) | 0 | D | |
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) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Restricted Stock Units | (2) | 4/16/2020 | | D | | | 6400 | (3) | (3) | Common Stock | 6400 | $23.85 (4) | 0 | D | |
Restricted Stock Units | (2) | 4/16/2020 | | D | | | 17369 | (5) | (5) | Common Stock | 17369 | $23.85 (4) | 0 | D | |
Restricted Stock Units | (2) | 4/16/2020 | | D | | | 38599 | (6) | (6) | Common Stock | 38599 | $23.85 (4) | 0 | D | |
Restricted Stock Units | (2) | 4/16/2020 | | D | | | 82286 | (7) | (7) | Common Stock | 82286 | $23.85 (4) | 0 | D | |
Explanation of Responses: |
(1) | On April 16, 2020 (the "Effective Time"), pursuant to the Agreement and Plan of Merger, dated as of June 3, 2019 (the "Merger Agreement"), by and among Cypress Semiconductor Corporation (the "Issuer"), Infineon Technologies AG ("Infineon") and IFX Merger Sub Inc. ("Merger Sub"), Merger Sub merged with and into the Issuer, with the Issuer as the surviving entity and a wholly owned subsidiary of Infineon. Pursuant to the Merger Agreement, each outstanding share of the Issuer's common stock ("Common Stock") was converted into the right to receive $23.85 per share in cash (the "Per Share Merger Consideration"), without interest. |
(2) | Restricted stock units convert into common stock on a one-for-one basis upon settlement. |
(3) | On July 8, 2016, the Reporting Person was granted 16,000 restricted stock units that vest in five equal annual installments beginning on May 30, 2017. |
(4) | Pursuant to the Merger Agreement, immediately prior to the Effective Time, each outstanding restricted stock unit award, whether vested or unvested, was cancelled and converted into the right to receive a cash payment equal to the product of (i) the number of restricted stock units subject to such award immediately prior to the Effective Time multiplied by (ii) the Per Share Merger Consideration. Such payment is to be made at the times and subject to any vesting and acceleration conditions set forth in the Merger Agreement. |
(5) | On February 16, 2018, the Reporting Person was granted 52,105 restricted stock units that vest in three equal annual installments beginning on the first anniversary of the grant date. |
(6) | On February 15, 2019, the Reporting Person was granted 66,904 restricted stock units, with approximately 42% of the units vesting on the first anniversary of the grant date and the remainder of the units vesting in equal installments on the second and third anniversaries of the grant date. |
(7) | On March 1, 2020, the Reporting Person was granted 82,286 restricted stock units that vest in three equal annual installments beginning on February 14, 2021. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
GOPALSWAMY SUDHIR 198 CHAMPION COURT SAN JOSE, CA 95134 |
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| EVP, Microcontroller/Connect |
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Signatures
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/s/ Pamela L. Tondreau, attorney-in-fact | | 4/17/2020 |
**Signature of Reporting Person | Date |
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