4//SEC Filing
Stewart Charles 4
Accession 0000947871-23-000004
CIK 0001702780other
Filed
Jan 2, 7:00 PM ET
Accepted
Jan 3, 6:05 PM ET
Size
8.7 KB
Accession
0000947871-23-000004
Insider Transaction Report
Form 4
Altice USA, Inc.ATUS
Stewart Charles
Director
Transactions
- OtherSwap
Class A common stock
2022-12-23−350,000→ 973,925 total - OtherSwap
Variable Prepaid Forward Transaction
2022-12-23−350,000→ 0 total→ Class A common stock (350,000 underlying)
Footnotes (3)
- [F1]On December 23, 2022 (the "Settlement Date"), the reporting person settled a Variable Prepaid Forward Transaction (the "Transaction") that was entered into on December 23, 2019 with an unaffiliated bank (the "Bank") relating to 350,000 shares of Class A common stock of the Issuer ("Shares").
- [F2]The Transaction obligated the reporting person to deliver on the Settlement Date to the Bank a number of Shares determined as follows (or, at the reporting person's election, an equivalent amount in cash): (a) if the closing price per Share on the Settlement Date (the "Settlement Price") is less than $26.85 (the "Floor Price"), 350,000 Shares (the "Number of Shares"); (b) if the Settlement Price is greater than the Floor Price but less than or equal to $33.56 (the "Cap Price"), the Number of Shares multiplied by the Floor Price divided by the Settlement Price; and (c) if the Settlement Price is greater than the Cap Price, the Number of Shares multiplied by (1 - (Cap Price - Floor Price), divided by the Settlement Price).
- [F3]The reporting person pledged 350,000 Shares (the "Pledged Shares") to the Bank to secure its obligations under the Transaction. On the Settlement Date, the Settlement Price was $4.39. Accordingly, the reporting person transferred to the Bank all of the Pledged Shares.
Documents
Issuer
Altice USA, Inc.
CIK 0001702780
Entity typeother
Related Parties
1- filerCIK 0001708800
Filing Metadata
- Form type
- 4
- Filed
- Jan 2, 7:00 PM ET
- Accepted
- Jan 3, 6:05 PM ET
- Size
- 8.7 KB