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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 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 (Month/Day/Year) |
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) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option (right to buy) | $ 28.36 | 06/10/2020(1) | A | 300,000 | (2) | 01/29/2030 | Class A common stock | 300,000 | $ 0 | 300,000 | D | ||||
Performance Stock Units | (3) | 06/10/2020(1) | A | 25,968 | (3) | (4) | Class A common stock | 25,968 | $ 0 | 25,968 | D | ||||
Performance Stock Units | (5) | 06/10/2020(1) | A | 63,280 | (5) | (4) | Class A common stock | 63,280 | $ 0 | 63,280 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Taki Layth 1 COURT SQUARE WEST LONG ISLAND CITY, NY 11101 |
Chief Accounting Officer |
/s/ Layth Taki | 06/12/2020 | |
**Signature of Reporting Person | Date |
* | 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). |
(1) | The grant was approved by a committee of the board of directors of the Issuer in January 2020, subject to shareholder approval of the Amended and Restated Altice USA 2017 Long Term Incentive Plan (the "Plan") under which the grant was made. The Issuer's shareholders approved the Plan on June 10, 2020. |
(2) | These Options were granted under the Plan and are scheduled to vest 50% on December 27, 2021, 25% on December 27, 2022 and 25% on December 27, 2023. |
(3) | Each performance stock unit ("PSU") represents a contingent right to receive one share of Class A common stock of the Issuer. The PSUs vest on the day following the date on which the 30-day volume weighted average market price of the Issuer's Class A common stock equals or exceeds $50 per share. |
(4) | The PSUs will be forfeited if the applicable performance measure is not achieved prior to January 29, 2024 (January 29, 2026 in the event of a recession or market disruption event prior to achievement of the performance measure) or if the Reporting Person does not continue to provide services to the Issuer through the achievement date of the applicable performance measure. |
(5) | Each performance stock unit ("PSU") represents a contingent right to receive one share of Class A common stock of the Issuer. The PSUs vest on the day following the date on which the 30-day volume weighted average market price of the Issuer's Class A common stock equals or exceeds $60 per share. |