Combes Michel 4
4 · SPRINT Corp · Filed Apr 2, 2020
Insider Transaction Report
Form 4
Combes Michel
DirectorPresident & CFO
Transactions
- Disposition to Issuer
Common Stock
2020-04-01−5,072,917→ 0 total - Disposition to Issuer
Non-Qualified Stock Option (right to buy)
2020-04-01−199,203→ 0 totalExercise: $5.29Exp: 2028-01-30→ Common Stock (199,203 underlying) - Award
Common Stock
2020-03-31+24,890→ 5,072,917 total
Footnotes (3)
- [F1]Pursuant to the terms and conditions of the Issuer's 2017 long-term incentive compensation plan, the Issuer's actual results exceeded the established financial objectives resulting in an earn-out of 111.33% allocated to the three-year performance period. These restricted stock units vest 100% on May 24, 2020.
- [F2]Disposed of pursuant to merger agreement under which a wholly owned subsidiary of T-Mobile US, Inc. ("T-Mobile") merged with and into Issuer, with Issuer continuing as the surviving corporation and a wholly owned subsidiary of T-Mobile (the "Merger"). Includes (i) 160,694 shares of Issuer common stock exchanged for 16,481 shares of T-Mobile common stock; (ii) 1,218,816 time-based restricted stock units ("RSUs") that were automatically converted into 125,002 RSUs of T-Mobile, on the same terms and conditions as the existing awards; and (iii) 3,693,407 performance-based RSUS that were automatically converted into 378,796 RSUs of T-Mobile, on the same terms and conditions as the existing awards (other than performance-based vesting conditions). Shares of T-Mobile common stock had a market value of $85.13 per share on the effective date of the Merger.
- [F3]This option, which provided for vesting in three equal annual installments beginning May 24, 2018, was assumed by T-Mobile in the Merger and replaced with an option to purchase 20,430 shares of T-Mobile common stock for $51.58 per share.