4//SEC Filing
BOSPFLUG LANCE F 4
Accession 0001209191-19-048199
CIK 0000350403other
Filed
Sep 3, 8:00 PM ET
Accepted
Sep 4, 4:27 PM ET
Size
7.1 KB
Accession
0001209191-19-048199
Insider Transaction Report
Form 4
PHI INCPHIKQ
BOSPFLUG LANCE F
President & COO
Transactions
- Disposition to Issuer
Non-Voting Common Stock
2019-09-04−253,449→ 0 total
Footnotes (4)
- [F1]On March 14, 2019, the Issuer and certain subsidiaries (together, the "Debtors") filed voluntary petitions (the "Chapter 11 Cases") in the United States Bankruptcy Court for the Northern District of Texas (the "Bankruptcy Court") seeking relief under Chapter 11 of Title 11 of the United States Code. On August 2, 2019, the Bankruptcy Court issued a written order confirming the Debtors' Third Amended Joint Plan of Reorganization, as previously supplemented and as modified by such order (as modified by a subsequent written order issued by the Bankruptcy Court on August 29, 2019, the "Plan"). On September 4, 2019 (the "Effective Date"), the Plan became effective in accordance with its terms and the Debtors emerged from bankruptcy under the Chapter 11 Cases.
- [F2]As of the Effective Date, all of the Issuer's previously-outstanding equity interests, including shares of its voting and non-voting common stock (the "Old Common Stock") and any unvested rights to acquire such equity interests, were cancelled and extinguished.
- [F3]Included in this figure are (a) 131,275 unvested time-based restricted stock units that were cancelled and extinguished for no consideration and (b) 122,174 shares of non-voting Old Common Stock that were cancelled and extinguished for the consideration described in footnote 4.
- [F4]Pursuant to the Plan, the Debtor effectuated certain restructuring transactions (the "Restructuring"), which, among other things, resulted in a new holding company, PHI Group, Inc. ("PHI Group"), becoming the ultimate corporate parent of the Issuer. As provided in the Plan, on the Effective Date, PHI Group issued equity warrants to certain holders of Old Common Stock (including the Reporting Person), which are exercisable for shares of PHI Group common stock (the "Equity Warrants"). The Equity Warrants have a term of three years and represent, in the aggregate, the right to acquire up to 5% of the total equity interests in PHI Group on the Effective Date. The exercise price of the Equity Warrants and the pro rata number of Equity Warrants (and underlying shares of PHI Group common stock) issuable to the Reporting Person will be determined in accordance with the Plan and the warrant agreement under which the Equity Warrants were issued.
Documents
Issuer
PHI INC
CIK 0000350403
Entity typeother
Related Parties
1- filerCIK 0001184769
Filing Metadata
- Form type
- 4
- Filed
- Sep 3, 8:00 PM ET
- Accepted
- Sep 4, 4:27 PM ET
- Size
- 7.1 KB