El-Dada Riad Hussein 4
4 · Mallinckrodt plc · Filed Jun 29, 2023
Insider Transaction Report
Form 4
El-Dada Riad Hussein
Director
Transactions
- Disposition to Issuer
Ordinary Shares
2023-06-16−26,277→ 23,122 total - Tax Payment
Ordinary Shares
2023-06-16$1.28/sh−3,154$4,037→ 49,399 total
Footnotes (1)
- [F1]The restricted stock units (the "RSUs") granted to the reporting person on January 3, 2023 were canceled by mutual agreement of the reporting person and Mallinckrodt plc ("Mallinckrodt") in connection with the Board of Directors (the "Board") of Mallinckrodt's approval of changes to the compensation of non-employee members of the Board (such changes, the "Compensation Changes"). In connection with the Compensation Changes, and in consideration of the cancelation of the RSUs, the reporting person will receive (i) in the event of a bankruptcy filing, additional cash compensation for 2023 of $210,000 or (ii) in the absence of a bankruptcy filing, additional cash compensation for 2023 of $245,000. In either event, the amounts are to be prepaid pro rata on a quarterly basis and paid in arrears for the prior quarters of fiscal year 2023.