The above information was disclosed in a filing to the SEC. Some additional info was provided as follows:
The stock option grant was set to expire on December 12, 2013. The stock option was exercised using a Cashless Net Share Settlement in accordance with the terms of the Issuer's 1995 Equity Incentive Plan. A Cashless Net Share Settlement results in the reporting person holding shares upon exercise of the stock option and obligates them to surrender a portion of the sh
ares received upon exercise of the stock option in order to satisfy the aggregate exercise price obligation and the related payroll withholding tax obligation.
This component of the Cashless Net Share Settlement reflects the shares that the reporting person was obligated to surrender to the Issuer to pay for the aggregate exercise price for the shares acquired on June 27, 2013.
This component of the Cashless Net Share Settlement represents surrendered shares to fund payroll taxes due by the reporting person in connection with the option exercised on June 27, 2013.
Common Stock of 394,694 shown in Table I above excludes options of 560,000. Total amount of common stock and options is 954,694.
To see this filing in its entirety, click here
To receive a free e-mail notification whenever an insider of EPIQ Systems makes a similar move, sign up!
Other recent filings from the company include the following:
Registration of securities [Section 12(b)] - Sept. 19, 2014
Epiq Systems Announces Review Of Strategic Alternatives; - Sept. 19, 2014
EPIQ Systems just filed a General Statement of acquisition of beneficial ownership - Sept. 17, 2014