CEVA INC — Director's Dealing 2021

Feb 24, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CEVA INC (CEVA)
CIK: 0001173489
Period of Report: 2021-02-22

Reporting Person: LIMON ZVI (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-22	Common Stock	S	15714	$72.16	Disposed	8430	Direct
2021-02-22	Common Stock	M	13000	$19.43	Acquired	21430	Direct
2021-02-22	Common Stock	F	3484	$72.63	Disposed	17946	Direct
2021-02-22	Common Stock	S	9516	$72.63	Disposed	8430	Direct
2021-02-22	Common Stock	M	6500	$27.17	Acquired	14930	Direct
2021-02-22	Common Stock	F	2436	$72.98	Disposed	12494	Direct
2021-02-22	Common Stock	S	4064	$72.98	Disposed	8430	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-22	Stock Option (Right to Buy)	$19.43	M	13000	Disposed	2025-07-01	Common Stock (13000)	Direct
2021-02-22	Stock Option (Right to Buy)	$27.17	M	6500	Disposed	2026-07-01	Common Stock (6500)	Direct

Footnotes

F1: This transaction was executed in multiple trades ranging from $71.86 to $72.36. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein.

F2: Represents a net-exercise of outstanding stock options. The reporting person received 9,516 shares of common stock on the net exercise of an option to purchase 13,000 shares of common stock. The reporting person forfeited 3,484 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 22, 2021 of $72.63.

F3: Represents a net-exercise of outstanding stock options. The reporting person received 4,064 shares of common stock on the net exercise of an option to purchase 6,500 shares of common stock. The reporting person forfeited 2,436 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 22, 2021 of $72.98.

F4: Represents 2,528 shares outstanding and 5,902 unvested RSU's.

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.