4//SEC Filing
Valeant Pharmaceuticals International, Inc. 4
Accession 0000885590-16-000085
$BHCCIK 0000885590operating
Filed
Jan 4, 7:00 PM ET
Accepted
Jan 5, 7:30 PM ET
Size
7.1 KB
Accession
0000885590-16-000085
Insider Transaction Report
Form 4
Pearson J. Michael
DirectorChief Executive Officer
Transactions
- Tax Payment
Restricted Share Units
2015-12-31$73.77/sh−14,412$1,063,173→ 465,588 total→ Common shares, no par value (465,588 underlying)
Footnotes (4)
- [F1]Upon award on August 23, 2011, each of these performance-based Restricted Share Unist ("RSUs") represented a contingent right to receive between zero and four common shares, no par value ("Common Shares"), of Valeant Pharmaceuticals International, Inc. ("Valeant") on February 1, 2019 (or as otherwise required by the applicable award agreement), subject to performance based vesting criteria. See note (3).
- [F2]This number represents a surrender of shares to which the reporting person is entitled pursuant to vested performance-based RSUs to satisfy certain tax withholding obligations due upon vesting of performance-based RSUs in 2015.
- [F3]Upon award, the performance-based RSUs were eligible to vest on the achievement of TSR targets ranging from 15% to 60% over a base price of $54.76 (i.e., at 15% each vesting RSU earns one Common Share and at 60% each vesting RSU earns four Common Shares) on each of three measurement dates: 25% would vest on February 2, 2015, 50% on May 2, 2015 and 25% on August 2, 2015, with early vesting possible after the second anniversary of the grant date at higher TSR levels. See note (4).
- [F4]Represents the maximum number of Common Shares that may be issued under this performance-based RSU award after giving effect to the surrender reported herein. Of that amount, performance-based RSUs have vested in respect of 445,936 Common Shares based on the applicable performance criteria and performance-based RSUs in respect of a further 19,652 Common Shares may still be earned subject to such criteria. See note (3).
Documents
Issuer
Valeant Pharmaceuticals International, Inc.
CIK 0000885590
Entity typeoperating
IncorporatedNJ
Related Parties
1- filerCIK 0000885590
Filing Metadata
- Form type
- 4
- Filed
- Jan 4, 7:00 PM ET
- Accepted
- Jan 5, 7:30 PM ET
- Size
- 7.1 KB