4//SEC Filing
Brewster Victoria P 4
Accession 0001127602-19-015067
CIK 0001645494other
Filed
Apr 8, 8:00 PM ET
Accepted
Apr 9, 3:49 PM ET
Size
26.5 KB
Accession
0001127602-19-015067
Insider Transaction Report
Form 4
Brewster Victoria P
SVP, HUMAN RESOURCES
Transactions
- Disposition to Issuer
Restricted Shares
2019-04-04−10,300→ 0 totalExercise: $0.00→ Ordinary Shares (10,300 underlying) - Disposition to Issuer
Restricted Shares
2019-04-04−1,191→ 1,962 totalExercise: $0.00Exp: 2020-07-07→ Ordinary Shares (1,191 underlying) - Disposition to Issuer
Restricted Shares
2019-04-04−5,488→ 0 totalExercise: $0.00Exp: 2022-03-30→ Ordinary Shares (5,488 underlying) - Disposition to Issuer
Restricted Shares
2019-04-04−3,332→ 5,488 totalExercise: $0.00Exp: 2022-03-30→ Ordinary Shares (3,332 underlying) - Disposition to Issuer
Ordinary Shares
2019-04-04$31.75/sh−38,377$1,218,470→ 0 total - Disposition to Issuer
Restricted Shares
2019-04-04−1,016→ 1,674 totalExercise: $0.00Exp: 2021-03-29→ Ordinary Shares (1,016 underlying) - Disposition to Issuer
Restricted Shares
2019-04-04−12,610→ 0 totalExercise: $0.00→ Ordinary Shares (12,610 underlying) - Disposition to Issuer
Restricted Shares
2019-04-04−17,640→ 0 totalExercise: $0.00→ Ordinary Shares (17,640 underlying) - Disposition to Issuer
Restricted Shares
2019-04-04−1,962→ 0 totalExercise: $0.00Exp: 2020-07-07→ Ordinary Shares (1,962 underlying) - Disposition to Issuer
Restricted Shares
2019-04-04−1,674→ 0 totalExercise: $0.00Exp: 2021-03-29→ Ordinary Shares (1,674 underlying)
Footnotes (6)
- [F1]Pursuant to the terms of that certain Bid Conduct Agreement (the "Acquisition Agreement") between ARRIS International plc ("ARRIS") and CommScope Holding Company, Inc. ("CommScope"), CommScope agreed to acquire all of the issued and to be issued Ordinary Shares of ARRIS (the "Acquisition") for $31.75 per Ordinary Share by means of a court-sanctioned scheme of arrangement (the "Scheme"). On April 4, 2019, at the effective time of the Scheme (the "Effective Time"), each Ordinary Share then outstanding was automatically transferred from ARRIS shareholders in accordance with the Scheme and the Acquisition Agreement to CommScope, and the ARRIS shareholders ceased to have any rights with respect to their Ordinary Shares, except their right to receive $31.75 per Ordinary Share. This represents shares disposed of upon consummation of the Acquisition.
- [F2]At the Effective Time, this performance-based restricted stock unit grant, which provided for vesting between 0 and 200% of the grant amount based on the Company's shareholder return as compared to the NASDAQ Composite shareholder return over a three-year measurement period, was deemed to have satisfied its performance-based vesting conditions at the target level, and was cancelled and converted into the right to receive cash equal to $31.75 multiplied by the number of Ordinary Shares subject to such performance-based restricted stock units.
- [F3]This restricted stock unit grant does not have a date of expiration, but will fully vest pursuant to the predetermined vesting schedule.
- [F4]At the Effective Time, this performance-based restricted stock unit grant, which provided for vesting between 0 and 200% of the grant amount based on the Company's shareholder return as compared to the NASDAQ Composite shareholder return over a three-year measurement period, was deemed to have satisfied its performance-based vesting conditions at a level that results in performance vesting at 150% of the target level, and was cancelled and converted into the right to receive cash equal to $31.75 multiplied by the number of Ordinary Shares subject to such performance-based restricted stock units.
- [F5]At the Effective Time, 37.78% of the Ordinary Shares subject to this restricted stock unit grant, which provided for vesting in four equal annual installments beginning one year from the date of grant, were cancelled and converted into the right to receive cash equal to $31.75 multiplied by the number of restricted stock units being so cancelled and converted.
- [F6]At the Effective Time, 62.22% of the Ordinary Shares subject to this restricted stock unit grant, which provided for vesting in four equal annual installments beginning one year from the date of grant, were assumed and converted into restricted stock units denominated in shares of CommScope common stock equal to (i) the number of restricted stock units being so converted multiplied by (ii) an exchange ratio, (A) the numerator of which is $31.75 and (B) the denominator of which is the volume-weighted average price per share of CommScope's Common Stock for the 20 trading days prior to the Effective Time of $22.0581, but otherwise remained subject to the original terms and vesting schedule associated with such assumed restricted stock unit.
Documents
Issuer
ARRIS International plc
CIK 0001645494
Entity typeother
Related Parties
1- filerCIK 0001641999
Filing Metadata
- Form type
- 4
- Filed
- Apr 8, 8:00 PM ET
- Accepted
- Apr 9, 3:49 PM ET
- Size
- 26.5 KB