COMTECH TELECOMMUNICATIONS CORP /DE/ — Director's Dealing 2015

Aug 6, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMTECH TELECOMMUNICATIONS CORP /DE/ (CMTL)
CIK: 0000023197
Period of Report: 2015-08-04

Reporting Person: PAUL ROBERT G (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-08-04	Stock Option Right to Buy	$28.35	A	1875	Acquired	2020-08-04	Common stock par value $.10 per share (1875)	Direct
2015-08-04	Stock Option Right to Buy	$28.35	A	1875	Acquired	2020-08-04	Common stock par value $.10 per share (1875)	Direct
2015-08-04	Stock Option Right to Buy	$28.35	A	3750	Acquired	2020-08-04	Common stock par value $.10 per share (3750)	Direct
2015-08-04	Restricted Stock Units	$	A	1588	Acquired		Common stock par value $.10 per share (1588)	Direct

Footnotes

F1: Option was granted under the Company's 2000 Stock Incentive Plan in consideration of services to be performed by the reporting person after the date of grant.

F2: As permitted under the Comtech Telecommunications Corp. 2000 Stock Incentive Plan, restricted stock units are awarded to the reporting person pursuant to his election to receive a portion of the value of the annual stock option grant he otherwise would have received in restricted stock units. Each restricted stock unit represents the right to receive one share of common stock of Comtech Telecommunications Corp. upon vesting of the unit.

F3: Generally, the restricted stock units will vest in installments over a three year period, at a rate of 25% on the first and second anniversaries of grant and 50% on the third anniversary of the date of grant, assuming continued service as a director. Shares of common stock corresponding to vested units will be delivered to the reporting person within 30 days of termination of directorship.