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
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

VARMA VIKRAM
2. Issuer Name and Ticker or Trading Symbol

VERIFONE SYSTEMS, INC. [ PAY ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
General Counsel and Secretary
(Last)          (First)          (Middle)

C/O VERIFONE SYSTEMS, INC., 88 WEST PLUMERIA DRIVE
3. Date of Earliest Transaction (MM/DD/YYYY)

8/20/2018
(Street)

SAN JOSE, CA 95134
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $0.01 per share   8/20/2018     D    45733   D   (1) 0   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
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
Stock Option (right to buy)   $23.00   8/20/2018     D         25000      (8) 10/1/2020   Common Stock, par value $0.01 per share   25000     (2) (3) 0   D    
Stock Option (right to buy)   $17.68   8/20/2018     D         5000    8/20/2018   (2) (3) 1/2/2025   Common Stock, par value $0.01 per share   5000     (2) (3) 0   D    
Restricted Stock Units   (4) $0.00   8/20/2018     D         8153    8/20/2018   (5)   (5) Common Stock, par value $0.01 per share   8153     (5) 0   D    
Restricted Stock Units   (4) $0.00   8/20/2018     D         2392    8/20/2018   (5)   (5) Common Stock, par value $0.01 per share   2392     (5) 0   D    
Restricted Stock Units   (4) $0.00   8/20/2018     D         3301    8/20/2018   (5)   (5) Common Stock, par value $0.01 per share   3301     (5) 0   D    
Restricted Stock Units   (4) $0.00   8/20/2018     D         14122    8/20/2018   (5)   (5) Common Stock, par value $0.01 per share   14122     (5) 0   D    
Restricted Stock Units   (4) $0.00   8/20/2018     D         14122    8/20/2018   (5)   (5) Common Stock, par value $0.01 per share   14122     (5) 0   D    
Restricted Stock Units   (6) $0.00   8/20/2018     D         11404    8/20/2018   (7)   (7) Common Stock, par value $0.01 per share   11404     (7) 0   D    

Explanation of Responses:
(1)  At the effective time of the merger contemplated by the Agreement and Plan of Merger, dated as of April 9, 2018, by and among VeriFone Systems, Inc. (the "Company"), Vertex Holdco LLC, and Vertex Merger Sub LLC (the "Effective Time"), (a) each issued and outstanding share of common stock of the Company (each, a "Share") (other than 17,500 issued and outstanding Shares that were rolled over into common units of Vertex Holdco LLC ("Rollover Stock Awards")) held by Mr. Varma was converted into the right to receive $23.04 in cash, without interest; and (b) each Rollover Stock Award was cancelled and converted into 17,500 shares of common units of Vertex Holdco LLC.
(2)  At the Effective Time, (a) each outstanding vested option (or vested portion thereof) to purchase Shares (each, a "Vested Company Option") was cancelled and converted into the right to receive (without interest), no later than three business days after the Effective Time, an amount in cash equal to the product obtained by multiplying (i) the total number of Shares subject to such Vested Company Option immediately prior to the Effective Time by (ii) the excess, if any, of $23.04 over the exercise price per Share of such Vested Company Option, less withholding taxes; and (b) each outstanding unvested option (or unvested portion thereof) to purchase Shares (each, an "Unvested Company Option") was cancelled and converted into the right to receive an amount in cash, without interest, equal to the product obtained by multiplying (i) the total number of Shares subject to such Unvested Company Option immediately prior to the Effective Time by (ii) the excess, if any,
(3)  (Continued from Footnote 2) of (A) $23.04 over (B) the exercise price per Share of such Unvested Company Option less withholding taxes, which remains subject to the same vesting schedule that applied to such Unvested Company Option immediately prior to the Effective Time.
(4)  Represents restricted stock units subject only to service-based vesting conditions (a "Company RSU") under the Company's stock plans.
(5)  At the Effective Time, each outstanding Company RSU under the Company's stock plans was converted into the right to receive an amount in cash (without interest) equal to the product obtained by multiplying (i) the total number of Shares subject to such Company RSU immediately prior to the Effective Time by (ii) $23.04, less withholding taxes, and otherwise remains subject to the same vesting schedule that applied immediately prior to the Effective Time.
(6)  Represents restricted stock units subject to performance-based vesting conditions (a "Company P-RSU") under the Company's stock plans.
(7)  At the Effective Time, each outstanding Company P-RSU was converted into the right to receive an amount in cash (without interest) equal to the product obtained by multiplying (i) the total number of Shares subject to such Company P-RSU immediately prior to the Effective Time based on the actual performance through the Effective Time by (ii) $23.04, less withholding taxes, and otherwise remains subject to the same vesting schedule that applied immediately prior to the Effective Time.
(8)  The Vested Company Options underlying this grant are fully exercisable as they previously vested.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
VARMA VIKRAM
C/O VERIFONE SYSTEMS, INC.
88 WEST PLUMERIA DRIVE
SAN JOSE, CA 95134


General Counsel and Secretary

Signatures
/s/ Vikram Varma 8/21/2018
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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.
Paymentus (NYSE:PAY)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Paymentus Charts.
Paymentus (NYSE:PAY)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Paymentus Charts.