Sec Form 4 Filing - Traupman Edward @ RigNet, Inc. - 2018-03-19

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Traupman Edward
2. Issuer Name and Ticker or Trading Symbol
RigNet, Inc. [ RNET]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Vice President - SI&A
(Last) (First) (Middle)
15115 PARK ROW BLVD., SUITE 300
3. Date of Earliest Transaction (MM/DD/YY)
03/19/2018
(Street)
HOUSTON, TX77084
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 03/19/2018 M 1,074 A $ 0 9,962 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Performance Unit ( 1 ) 03/19/2018 A 370 ( 2 ) ( 2 ) Common Stock ( 1 ) 370 $ 0 370 D
Restricted Stock Unit ( 3 ) 03/19/2018 M 1,074 ( 4 ) ( 4 ) Common Stock ( 3 ) 1,074 $ 0 3,223 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Traupman Edward
15115 PARK ROW BLVD.
SUITE 300
HOUSTON, TX77084
Vice President - SI&A
Signatures
Shelly Buchman pursuant to a Limited Power of Attorney filed with the SEC on March 22, 2017 /s/ Shelly Buchman 03/20/2018
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Each performance unit represents a contingent right to receive one share of the Issuer's common stock under the Issuer's 2010 Omnibus Incentive Plan, as amended. On March 15, 2017, the reporting person was awarded a target number of performance units ("PUs") which were subject to the achievement of certain pre-established metrics over the one-year performance period which began on January 1, 2017 and ended December 31, 2017. On Mach 19, 2018, the Issuer's Board of Directors certified the performance metrics and determined the number of PUs that were earned by the reporting person.
( 2 )The PUs become payable on July 1, 2020, but may be settled earlier upon certain circumstances as defined in the Issuer's Performance Unit Award Agreement.
( 3 )Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
( 4 )On March 15, 2017, the reporting person was granted 4,297 restricted stock units, of which 1/4 of the shares subject to the restricted stock units vested on March 19, 2018. The common stock into which such vested restricted stock units converted on March 19, 2018 is reported on Table 1 on this Form 4. The remaining unvested restricted stock units will continue to vest in equal annual installments until fully vested on March 19, 2021.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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