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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
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. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction 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 (Month/Day/Year) |
7. Title and Amount of Underlying Securities (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) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Restricted Stock Units (1) | $ 0 | 04/25/2006 | A | 20,000 | 04/25/2007(2) | 04/25/2010 | Common Stock | 20,000 | $ 0 | 521,578 (3) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
OSTOICH VLADIMIR C/O ABAXIS INC 3240 WHIPPLE RD UNION CITY, CA 94587 |
VP of Govt Affairs & Pac Rim |
/s/ Vladimir Ostoich | 04/27/2006 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Each restricted stock unit represents a contingent right to receive one share of Abaxis common stock. |
(2) | Granted under the Abaxis 2005 Equity Incentive Plan. Restricted Stock Units vest as to 5%, 12 months from grant date; then vest as to 10%, 24 months from grant date, then vest as to 15%, 36 months from grant date; and then vest as to the remaining 70%, 48 months from grant date. The vesting of Restricted Stock Units is subject to acceleration upon achieving the following qualifers: (a) pre-tax income requirements within 12 months from grant date, vesting of 25%; within 24 months from grant date, vesting of 25%; within 36 months of grant date, vesting of 30%; (b) product development requirements within 14 months from grant date, additional vesting of 10%; (c) regulatory requirements within 23 months of grant date, additional vesting of 10%; or (d) operating income per share requirements in any fiscal period, full acceleration. |
(3) | Includes: (1) 83,750 common stock; (2) 31,500 shares held by Dr. Ostoich's IRA; (3) 29,500 shares held by Mrs. Ostoich's IRA; 117,328 shares held by the Vladimir Ostoich and Liliana Ostoich Trust Fund, for the benefit of Dr. Ostoich and his wife(4) 20,000 restricted stock units; and (5)239,500 shares subject to options exercisable by Dr. Ostoich and 10,000 shares unvested as of 04/26/2006. |