RigNet
RigNet, Inc. (Form: 4, Received: 12/29/2017 13:56:55)
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 OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Schneider Charles E.
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)
CFO and Senior Vice President
(Last)          (First)          (Middle)

C/O RIGNET, INC., 15115 PARK ROW BLVD., SUITE 300
3. Date of Earliest Transaction (MM/DD/YYYY)

12/27/2017
(Street)

HOUSTON, TX 77084
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   12/27/2017     J (1)    3361.00   D $0.00   824.00   D    
Common Stock   12/27/2017     M    541.00   A $0.00   1365.00   D    
Common Stock   12/27/2017     M    6667.00   A $0.00   8032.00   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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     (2) 12/27/2017     M         541.00      (3)   (3) Common Stock   541.00     (2) 0.00   D    
Restricted Stock Unit     (4) 12/27/2017     M         6667.00      (5)   (5) Common Stock   6667.00     (4) 0.00   (6) D    

Explanation of Responses:
(1)  Shares were forfeited due to the reporting person's separation from the issuer.
(2)  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 10, 2016, the reporting person was awarded a target number of performance units ("PUs") which were subject to the achievement of certain pre-established metrics over a one-year performance period which began on January 1, 2016 and ended December 31, 2016. On Mach 15, 2017, the Compensation Committee of the Issuer's Board of Directors certified the performance metrics and determined the number of PUs that were earned by the reporting person.
(3)  The PUs become payable on July 1, 2019, but may be settled earlier upon certain circumstances as defined in the Issuer's Performance Unit Award Agreement.
(4)  Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
(5)  The settlement of these restricted stock units has been accelerated on the effective date of the reporting person's separation from the issuer pursuant to the terms of the reporting person's Restricted Stock Unit Award Agreement with the issuer.
(6)  The reporting person previously reported 5,333 shares which has been forfeited due to reporting person's separation from the issuer.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Schneider Charles E.
C/O RIGNET, INC.
15115 PARK ROW BLVD., SUITE 300
HOUSTON, TX 77084


CFO and Senior Vice President

Signatures
Shelly Buchman pursuant to a Limited Power of Attorney filed with the SEC on December 14, 2015 /s/ Shelly Buchman 12/29/2017
** Signature of Reporting Person Date


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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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