CEVA INC — Director's Dealing 2020

Feb 24, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CEVA INC (CEVA)
CIK: 0001173489
Period of Report: 2020-02-20

Reporting Person: MANN BRUCE (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-20	Common Stock	M	13000	$19.36	Acquired	13000	Direct
2020-02-20	Common Stock	F	7013	$35.16	Disposed	5987	Direct
2020-02-20	Common Stock	S	5987	$35.16	Disposed	0	Direct
2020-02-20	Common Stock	M	13000	$14.77	Acquired	13000	Direct
2020-02-20	Common Stock	F	5350	$35.16	Disposed	7560	Direct
2020-02-20	Common Stock	S	7650	$35.16	Disposed	0	Direct
2020-02-20	Common Stock	M	6500	$19.43	Acquired	6500	Direct
2020-02-20	Common Stock	F	3519	$35.16	Disposed	2981	Direct
2020-02-20	Common Stock	S	2981	$35.16	Disposed	0	Direct
2020-02-20	Common Stock	M	9750	$27.17	Acquired	9750	Direct
2020-02-20	Common Stock	F	7382	$35.16	Disposed	2368	Direct
2020-02-20	Common Stock	S	2368	$35.16	Disposed	0	Direct
2020-02-20	Common Stock	S	3250	$35.16	Disposed	19357	Direct
2020-02-20	Common Stock	S	4632	$35.16	Disposed	14725	Direct
2020-02-20	Common Stock	S	5540	$35.16	Disposed	9185	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-20	Stock Option (Right to Buy)	$19.36	M	13000	Disposed	2023-06-30	Common Stock (0)	Direct
2020-02-20	Stock Option (Right to Buy)	$14.77	M	13000	Disposed	2024-06-30	Common Stock (0)	Direct
2020-02-20	Stock Option (Right to Buy)	$19.43	M	6500	Disposed	2025-01-07	Common Stock (0)	Direct
2020-02-20	Stock Option (Right to Buy)	$27.17	M	9750	Disposed	2026-01-07	Common Stock (0)	Direct

Footnotes

F1: Represents a "net exercise" of outstanding stock options. The reporting person received 7,013 shares of common stock on the net exercise of an option to purchase 13,000 shares of common stock. The reporting person forfeited 5,987 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 20, 2020 of $35.16.

F2: Represents a "net exercise" of outstanding stock options. The reporting person received 5,350 shares of common stock on the net exercise of an option to purchase 13,000 shares of common stock. The reporting person forfeited 7,650 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 20, 2020 of $35.16.

F3: Represents a "net exercise" of outstanding stock options. The reporting person received 3,519 shares of common stock on the net exercise of an option to purchase 6,500 shares of common stock. The reporting person forfeited 2,981 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 20, 2020 of $35.16.

F4: Represents a "net exercise" of outstanding stock options. The reporting person received 7,382 shares of common stock on the net exercise of an option to purchase 9,750 shares of common stock. The reporting person forfeited 2,368 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 20, 2020 of $35.16.

F5: Represents restricted stock units ("RSUs")

F6: Represents 2,064 shares outstanding and 7,121 unvested RSUs.

F7: The stock option was granted pursuant to the company's 2003 Director Stock Option Plan.

F8: 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.