FAIRPOINT COMMUNICATIONS INC 4

Accession 0001104659-11-003146

CIK 0001062613operating

View on SEC.gov Company Profile

Filed

Jan 25, 7:00 PM ET

Accepted

Jan 26, 4:27 PM ET

Size

18.6 KB

Accession

0001104659-11-003146

Insider Transaction Report

Form 4

Period: 2011-01-24

FAIRPOINT COMMUNICATIONS INCFRP

Cummings Rose B.

VP, Corp. Comm./Chief of Staff

Transactions

Other
Common stock, par value $0.01 per share
2011-01-24−17,102→ 0 total
Other
Stock Options (2010 Long Term Incentive Plan)
2011-01-24+4,250→ 4,250 total
From: 2014-01-24Exp: 2021-01-24→ Common stock, par value $0.01 per share (4,250 underlying)
Other
Stock Options (2010 Long Term Incentive Plan)
2011-01-24+4,250→ 4,250 total
From: 2011-01-24Exp: 2021-01-24→ Common stock, par value $0.01 per share (4,250 underlying)
Other
Stock Options (2010 Long Term Incentive Plan)
2011-01-24+4,250→ 4,250 total
From: 2013-01-24Exp: 2021-01-24→ Common stock, par value $0.01 per share (4,250 underlying)
Other
Common stock, par value $0.01 per share
2011-01-24+5,000→ 5,000 total
Other
Stock Options (2010 Long Term Incentive Plan)
2011-01-24+4,250→ 4,250 total
From: 2012-01-24Exp: 2021-01-24→ Common stock, par value $0.01 per share (4,250 underlying)

Footnotes (3)

[F1]On October 26, 2009, FairPoint Communications, Inc. (the "Company") and substantially all of its direct and indirect subsidiaries filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of New York (Case No. 09-16335) (collectively, the "Chapter 11 Cases"). Pursuant to the Third Amended Joint Plan of Reorganization of FairPoint Communications, Inc. and its Subsidiaries (the "Plan"), any interest evidencing an ownership interest in the Company, whether or not transferable, and all options, warrants or rights, contractual or otherwise, to acquire any such interests (collectively, the "Equity Interests"), that were outstanding prior to the effectiveness of the Plan, were cancelled on January 24, 2011 (the "Effective Date"). This Form 4 is being filed to report the cancellation of all of the Reporting Person's Equity Interests.
[F2]On October 26, 2009, the Company and substantially all of its direct and indirect subsidiaries filed the Chapter 11 Cases. In accordance with the Plan and the Company's 2010 Long Term Incentive Plan (the "LTIP"), restricted shares of the Company's common stock, par value $0.01 per share ("Common Stock"), were distributed by the Company on the Effective Date. This Form 4 is being filed to report the 5,000 restricted shares of Common Stock acquired by the Reporting Person. 1,250 of these restricted shares vested on the Effective Date, with the remainder to vest in three equal annual installments, commencing on the first anniversary of the Effective Date. No consideration was paid by the Reporting Person for these restricted shares.
[F3]On October 26, 2009, the Company and substantially all of its direct and indirect subsidiaries filed the Chapter 11 Cases. In accordance with the Plan and the LTIP, stock options were distributed by the Company on the Effective Date. This Form 4 is being filed to report the 17,000 stock options acquired by the Reporting Person. Pursuant to the LTIP, the exercise price of the stock options shall be the lesser of (x) $36.03 per share of Common Stock and (y) the weighted average trading price of a share of Common Stock for the first 20 trading days following the Effective Date, but in no event less than $19.28 per share, subject to any adjustment in accordance with the LTIP. No consideration was paid by the Reporting Person for these stock options.

Documents

1 file

4
a4.xmlPrimary
4

Issuer

FAIRPOINT COMMUNICATIONS INC

CIK 0001062613

→

Entity typeoperating

IncorporatedDE

Related Parties

filerCIK 0001062613

Filing Metadata

Form type: 4
Filed: Jan 25, 7:00 PM ET
Accepted: Jan 26, 4:27 PM ET
Size: 18.6 KB

View on SEC.gov