COMTECH TELECOMMUNICATIONS CORP /DE/ — Director's Dealing 2017

Aug 3, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMTECH TELECOMMUNICATIONS CORP /DE/ (CMTL)
CIK: 0000023197
Period of Report: 2017-07-31

Reporting Person: GALLETTI MICHAEL (Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-07-31	Common stock par value $.10 per share	M	641	—	Acquired	13458	Direct
2017-07-31	Common stock par value $.10 per share	F	641	$18.00	Disposed	12817	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-07-31	Share Unit	$	A	17823	Acquired		Common stock par value $.10 per share (17823)	Direct
2017-07-31	Share Unit	$	M	641	Disposed		Common stock par value $.10 per share (641)	Direct

Footnotes

F1: These transactions represent the net settlement of share units (see footnote #2) to withhold the reporting person's Federal Insurance Contributions Act ("FICA") tax and certain federal and state income taxes.

F2: Share units are rights to convert solely into Comtech Telecommunications Corp. common stock on a one-for-one basis. The share units were issued in lieu of cash settlements based on the achievement of pre-established non-equity incentive goals for the fiscal year ending July 31, 2017, pursuant to the 2000 Stock Incentive Plan. These share units are fully vested, are subject to certain transfer restrictions, cannot be assigned, and will be converted into Comtech Telecommunications Corp. common stock following the one-year anniversary of the grant date which will occur on July 31, 2018.