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: LIMON ZVI (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-20	Common Stock	M	26000	$19.36	Acquired	26000	Direct
2020-02-20	Common Stock	F	14026	$35.10	Disposed	11974	Direct
2020-02-20	Common Stock	S	11974	$35.10	Disposed	0	Direct
2020-02-20	Common Stock	M	26000	$14.77	Acquired	26000	Direct
2020-02-20	Common Stock	F	10700	$35.10	Disposed	15300	Direct
2020-02-20	Common Stock	S	15300	$35.10	Disposed	0	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	26000	Disposed	2023-06-30	Common Stock (0)	Direct
2020-02-20	Stock Option (Right to Buy)	$14.77	M	26000	Disposed	2024-06-30	Common Stock (0)	Direct

Footnotes

F1: Represents a "net exercise" of outstanding stock options. The reporting person received 14,206 shares of common stock on the net exercise of an option to purchase 26,000 shares of common stock. The reporting person forfeited 11,974 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 $35.10.

F2: Represents a "net exercise" of outstanding stock options. The reporting person received 10,700 shares of common stock on the net exercise of an option to purchase 26,000 shares of common stock. The reporting person forfeited 15,300 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 $35.10.

F3: The stock option was granted pursuant to the company's 2003 Director Stock Option Plan.

F4: 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.