Tolley David 4
4 · Intelsat S.A. · Filed May 20, 2020
Insider Transaction Report
Form 4
Intelsat S.A.INTEQ
Tolley David
EVP & Chief Financial Officer
Transactions
- Disposition to Issuer
Restricted Share Units
2020-04-30−67,500→ 0 total→ Common Shares (67,500 underlying) - Sale
Common Shares
2020-05-18$0.40/sh−100,000$39,800→ 6,953 total
Holdings
- 25,334
Restricted Share Units
→ Common Shares (25,334 underlying) - 100,000
Restricted Share Units
→ Common Shares (100,000 underlying)
Footnotes (5)
- [F1]The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.3915 to $0.4039, inclusive. The reporting person undertakes to provide to Intelsat S.A., any security holder of Intelsat S.A. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares at each separate price within the ranges set forth in this footnote.
- [F2]Each restricted share unit ("RSU") represents a contingent right to receive one Common Share.
- [F3]On April 30, 2020 the RSUs granted on March 1, 2020 were cancelled. In exchange, the reporting person received a new performance-based incentive arrangement providing for the payment in cash of up to 82% of the grant date value of the RSUs, portions of which are to be received based upon achievement of objective performance criteria to be established by the Company's Compensation Committee.
- [F4]The RSUs vest in two equal annual installments, beginning March 1, 2021.
- [F5]Fifty percent (50%) of the RSUs will vest on July 1, 2020, twenty-five percent (25%) on July 1, 2021, and the remaining twenty-five percent (25%) on July 1, 2022.