Statement of Changes in Beneficial Ownership (4)
October 01 2019 - 4:35PM
Edgar (US Regulatory)
FORM 4
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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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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
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Millington Nicholas |
2. Issuer Name and Ticker or Trading Symbol
Sonos Inc
[
SONO
]
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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) Chief Product Officer
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(Last)
(First)
(Middle)
C/O SONOS, INC., 614 CHAPALA STREET |
3. Date of Earliest Transaction
(MM/DD/YYYY)
2/4/2019
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(Street)
SANTA BARBARA, CA 93101
(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
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2/4/2019
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M
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100000.00
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A
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$1.15
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115493.00
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D
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Common Stock
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5/15/2019
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F(1)
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384.00 (2)
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D
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$10.59
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115109.00
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D
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Common Stock
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8/15/2019
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M(3)
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17382.00
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A
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(4)
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132491.00
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D
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Common Stock
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8/15/2019
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F(1)
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6011.00
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D
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$11.91
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126480.00
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D
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Common Stock
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8/19/2019
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S(5)
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21818.00
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D
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$13.312 (6)
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104662.00
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D
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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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Employee Stock Option (right to buy)
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$1.15
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2/4/2019
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M
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100000.00
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(7)
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5/28/2019
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Common Stock
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100000.00
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$0.00
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0.00
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D
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Restricted Stock Units
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(4)
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8/15/2019
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M (3)
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17382.00
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(8)
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(8)
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Common Stock
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17382.00
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$0.00
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243348.00
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D
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Explanation of Responses:
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(1)
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Exempt transaction pursuant to Section 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were withheld by the Issuer in accordance with the agreement governing the restricted stock units ("RSUs") to satisfy federal and state tax withholding obligations of the Reporting Person resulting from the vesting and settlement of RSUs.
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(2)
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Due to an administrative error, the number of shares that were withheld on May 15, 2019 to cover taxes due upon the release and settlement of the RSUs was under-reported in the Form 4 that was filed by the Reporting Person with the U.S. Securities and Exchange Commission on May 17, 2019. This number reflects the additional shares that were withheld.
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(3)
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Vesting of RSUs granted to the Reporting Person on February 15, 2019.
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(4)
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Each RSU represents a contingent right to receive 1 share of the Issuer's Common Stock upon vesting and settlement for no consideration.
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(5)
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The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person.
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(6)
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Represents the weighted average sales price per share. The shares sold at prices ranging from $13.25 to $13.49 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.
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(7)
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The stock option is fully vested and immediately exercisable.
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(8)
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1/16 of the shares subject to the RSUs vest in equal installments on each quarterly anniversary of the initial vesting date of February 15, 2019, until such time as the RSUs are 100% vested, subject to the continuing employment of the Reporting Person on each vesting date. The RSUs are subject to double-trigger acceleration.
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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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Millington Nicholas C/O SONOS, INC. 614 CHAPALA STREET SANTA BARBARA, CA 93101
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Chief Product Officer
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Signatures
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/s/ Nanette Agustines, by power of attorney
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9/13/2019
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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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