CEVA INC — Director's Dealing 2017

Feb 13, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CEVA INC (CEVA)
CIK: 0001173489
Period of Report: 2017-02-09

Reporting Person: AYALON ELIYAHU (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-09	Common Stock	M	13000	$30.46	Acquired	18566	Direct
2017-02-09	Common Stock	F	11250	$35.00	Disposed	7316	Direct
2017-02-09	Common Stock	S	1750	$35.00	Disposed	5566	Direct
2017-02-09	Common Stock	M	3250	$17.61	Acquired	8816	Direct
2017-02-09	Common Stock	F	1626	$35.00	Disposed	7190	Direct
2017-02-09	Common Stock	S	1624	$35.00	Disposed	5566	Direct
2017-02-09	Common Stock	M	9750	$19.36	Acquired	15316	Direct
2017-02-09	Common Stock	F	5363	$35.00	Disposed	9953	Direct
2017-02-09	Common Stock	S	4387	$35.00	Disposed	5566	Direct
2017-02-09	Common Stock	M	6500	$14.77	Acquired	12066	Direct
2017-02-09	Common Stock	F	2728	$35.00	Disposed	9338	Direct
2017-02-09	Common Stock	S	3772	$35.00	Disposed	5566	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-09	Stock Option (Right to Buy)	$30.46	M	13000	Disposed	2021-06-30	Common Stock (13000)	Direct
2017-02-09	Stock Option (Right to Buy)	$17.61	M	3250	Disposed	2022-06-30	Common Stock (3250)	Direct
2017-02-09	Stock Option (Right to Buy)	$19.36	M	9750	Disposed	2023-06-30	Common Stock (9750)	Direct
2017-02-09	Stock Option (Right to Buy)	$14.77	M	6500	Disposed	2024-06-30	Common Stock (6500)	Direct

Footnotes

F1: Represents a "net exercise" of outstanding stock options. The reporting person received 1,750 shares of common stock on the net exercise of an option to purchase 13,000 shares of common stock. The reporting person forfeited 11,250 shares of common stock underlying the option in payment of the exercise price, based on the market price of CEVA common stock at the time of the option exercise on February 9, 2017 of $35.00.

F2: Represents a "net exercise" of outstanding stock options. The reporting person received 1,624 shares of common stock on the net exercise of an option to purchase 3,250 shares of common stock. The reporting person forfeited 1,626 shares of common stock underlying the option in payment of the exercise price, based on the market price of CEVA common stock at the time of the option exercise on February 9, 2017 of $35.00.

F3: Represents a "net exercise" of outstanding stock options. The reporting person received 4,387 shares of common stock on the net exercise of an option to purchase 9,750 shares of common stock. The reporting person forfeited 5,363 shares of common stock underlying the option in payment of the exercise price, based on the market price of CEVA common stock at the time of the option exercise on February 9, 2017 of $35.00.

F4: Represents a "net exercise" of outstanding stock options. The reporting person received 3,772 shares of common stock on the net exercise of an option to purchase 6,500 shares of common stock. The reporting person forfeited 2,728 shares of common stock underlying the option in payment of the exercise price, based on the market price of CEVA common stock at the time of the option exercise on February 9, 2017 of $35.00.

F5: The stock option was granted pursuant to the company's 2003 Director Stock Option Plan.

F6: The stock option became exercisable as to 25% of the underlying shares on the first year anniversary of the grant date and 25% each year thereafter.